Fastenal (FAST) 10-K 5 Feb 16 2015 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Jan. 22, 2016	Jun. 30, 2015
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Entity Registrant Name	FASTENAL CO
Entity Central Index Key	815,556
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		288,403,782
Entity Public Float			$ 12,195,658,299
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Well-known Seasoned Issuer	Yes
Trading Symbol	fast

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 129,019	$ 114,496
Trade accounts receivable, net of allowance for doubtful accounts of $11,729 and $12,619, respectively	468,375	462,077
Inventories	913,263	869,224
Deferred income tax assets	0	21,765
Prepaid income taxes	22,558	0
Other current assets	131,561	115,703
Total current assets	1,664,776	1,583,265
Property and equipment, net	818,889	763,889
Other assets, net	48,797	11,948
Total assets	2,532,462	2,359,102
Current liabilities:
Current portion of debt	62,050	90,000
Accounts payable	125,973	103,909
Accrued expenses	185,143	174,002
Income taxes payable	0	7,442
Total current liabilities	373,166	375,353
Long-term debt	302,950	0
Deferred income tax liabilities	$ 55,057	$ 68,532
Commitments and contingencies (Notes 4, 8, and 9)
Stockholders' equity:
Preferred stock, 5,000,000 shares authorized	$ 0	$ 0
Common stock, 400,000,000 shares authorized, 289,581,682 and 295,867,844 shares issued and outstanding, respectively	2,896	2,959
Additional paid-in capital	2,024	33,744
Retained earnings	1,842,772	1,886,350
Accumulated other comprehensive (loss) income	(46,403)	(7,836)
Total stockholders' equity	1,801,289	1,915,217
Total liabilities and stockholders' equity	$ 2,532,462	$ 2,359,102

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Trade accounts receivable, allowance for doubtful accounts	$ 11,729	$ 12,619
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	289,581,682	295,867,844
Common stock, shares outstanding (in shares)	289,581,682	295,867,844

Consolidated Statements Of Earn

Consolidated Statements Of Earnings - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Statement [Abstract]
Net sales	$ 3,869,187	$ 3,733,507	$ 3,326,106
Cost of sales	1,920,253	1,836,105	1,606,661
Gross profit	1,948,934	1,897,402	1,719,445
Operating and administrative expenses	1,121,590	1,110,776	1,007,431
Gain on sale of property and equipment	(1,411)	(964)	(643)
Operating income	828,755	787,590	712,657
Interest income	373	759	924
Interest expense	(3,108)	(915)	(113)
Earnings before income taxes	826,020	787,434	713,468
Income tax expense	309,659	293,284	264,832
Net earnings	$ 516,361	$ 494,150	$ 448,636
Basic net earnings per share (in dollars per share)	$ 1.77	$ 1.67	$ 1.51
Diluted net earnings per share (in dollars per share)	$ 1.77	$ 1.66	$ 1.51
Basic weighted average shares outstanding (in shares)	291,453,107	296,490,378	296,754,160
Diluted weighted average shares outstanding (in shares)	292,045,442	297,313,244	297,683,588

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net earnings	$ 516,361	$ 494,150	$ 448,636
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments (net of tax of $0 in 2015, 2014, and 2013)	(38,567)	(18,683)	(7,354)
Change in marketable securities (net of tax of $0 in 2015, 2014, and 2013)	0	(254)	98
Comprehensive income	$ 477,794	$ 475,213	$ 441,380

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax	$ 0	$ 0	$ 0
Change in marketable securities, tax	$ 0	$ 0	$ 0

Consolidated Statements Of Stoc

Consolidated Statements Of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Dec. 31, 2012	$ 1,560,360	$ 2,966	$ 61,436	$ 1,477,601	$ 18,357
Balance (in shares) at Dec. 31, 2012		296,564,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends paid in cash	(237,456)			(237,456)
Purchases of common stock	(9,080)	$ (2)	(9,078)	0
Purchases of common stock (in shares)		(200,000)
Stock options exercised	9,306	$ 4	9,302
Stock options exercised (in shares)		389,000
Stock-based compensation	5,400		5,400
Excess tax benefits from stock-based compensation	2,787		2,787
Net earnings	448,636			448,636
Other comprehensive income (loss)	(7,256)				(7,256)
Balance at Dec. 31, 2013	1,772,697	$ 2,968	69,847	1,688,781	11,101
Balance (in shares) at Dec. 31, 2013		296,753,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends paid in cash	(296,581)			(296,581)
Purchases of common stock	(52,942)	$ (12)	(52,930)	0
Purchases of common stock (in shares)		(1,200,000)
Stock options exercised	7,697	$ 3	7,694
Stock options exercised (in shares)		315,000
Stock-based compensation	7,039		7,039
Excess tax benefits from stock-based compensation	2,094		2,094
Net earnings	494,150			494,150
Other comprehensive income (loss)	(18,937)				(18,937)
Balance at Dec. 31, 2014	$ 1,915,217	$ 2,959	33,744	1,886,350	(7,836)
Balance (in shares) at Dec. 31, 2014	295,867,844	295,868,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends paid in cash	$ (327,101)			(327,101)
Purchases of common stock	(292,951)	$ (71)	(60,042)	(232,838)
Purchases of common stock (in shares)		(7,100,000)
Stock options exercised	19,099	$ 8	19,091
Stock options exercised (in shares)		814,000
Stock-based compensation	5,841		5,841
Excess tax benefits from stock-based compensation	3,390		3,390
Net earnings	516,361			516,361
Other comprehensive income (loss)	(38,567)				(38,567)
Balance at Dec. 31, 2015	$ 1,801,289	$ 2,896	$ 2,024	$ 1,842,772	$ (46,403)
Balance (in shares) at Dec. 31, 2015	289,581,682	289,582,000

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net earnings	$ 516,361	$ 494,150	$ 448,636
Adjustments to reconcile net earnings to net cash provided by operating activities, net of acquisitions:
Depreciation of property and equipment	86,071	72,145	63,770
Gain on sale of property and equipment	(1,411)	(964)	(643)
Bad debt expense	8,769	11,480	9,421
Deferred income taxes	8,290	1,760	8,129
Stock-based compensation	5,841	7,039	5,400
Excess tax benefits from stock-based compensation	(3,390)	(2,094)	(2,787)
Amortization of non-compete agreements	527	527	421
Changes in operating assets and liabilities, net of acquisitions:
Trade accounts receivable	(20,608)	(63,418)	(51,593)
Inventories	(47,830)	(87,622)	(68,685)
Other current assets	(15,778)	(7,510)	(10,627)
Accounts payable	20,617	12,501	13,234
Accrued expenses	11,141	25,263	22,424
Income taxes	(26,610)	34,405	(14,714)
Other	4,950	1,730	(6,266)
Net cash provided by operating activities	546,940	499,392	416,120
Cash flows from investing activities:
Purchases of property and equipment	(155,168)	(189,474)	(206,540)
Cash paid for acquisitions	(23,493)	(5,575)	0
Proceeds from sale of property and equipment	9,941	5,819	4,990
Net decrease (increase) in marketable securities	0	451	(97)
Other	(11,907)	(2)	(145)
Net cash used in investing activities	(180,627)	(188,781)	(201,792)
Cash flows from financing activities:
Borrowings under credit facility	1,215,000	705,000	260,000
Payments against credit facility	(955,000)	(615,000)	(260,000)
Proceeds from exercise of stock options	19,099	7,697	9,306
Excess tax benefits from stock-based compensation	3,390	2,094	2,787
Purchases of common stock	(292,951)	(52,942)	(9,080)
Payments of dividends	(327,101)	(296,581)	(237,456)
Net cash used in financing activities	(337,563)	(249,732)	(234,443)
Effect of exchange rate changes on cash and cash equivalents	(14,227)	(4,889)	(990)
Net increase in cash and cash equivalents	14,523	55,990	(21,105)
Cash and cash equivalents at beginning of year	114,496	58,506	79,611
Cash and cash equivalents at end of year	129,019	114,496	58,506
Supplemental disclosure of cash flow information:
Cash paid during each year for interest	3,103	915	113
Net cash paid during each year for income taxes	$ 327,034	$ 257,514	$ 270,615

Business Overview and Summary o

Business Overview and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Business Overview and Summary of Significant Accounting Policies [Abstract]
Business Overview and Summary of Significant Accounting Policies	Note 1. Business Overview and Summary of Significant Accounting Policies Business Overview Fastenal is a leader in the wholesale distribution of industrial and construction supplies operating a store-based business with approximately 2,600 locations. These locations are primarily in North America. Principles of Consolidation The consolidated financial statements include the accounts of Fastenal Company and its subsidiaries (collectively referred to as ‘Fastenal’ or by terms such as ‘we’, ‘our’, or ‘us’). All material intercompany balances and transactions have been eliminated in consolidation. Revenue Recognition and Accounts Receivable Net sales include products, services, and shipping and handling charges billed, net of any related sales incentives, and net of an estimate for product returns. We recognize revenue when persuasive evidence of an arrangement exists, title and risk of ownership have passed, the sales price is fixed or determinable, and collectibility is reasonably assured. These criteria are met at the time the product is shipped to or picked up by the customer. We recognize services at the time the service is completed and product is provided to the customer. We recognize revenue for shipping and handling charges billed at the time the products are shipped to or picked up by the customer. We estimate product returns based on historical return rates. Accounts receivable are stated at their estimated net realizable value. The allowance for doubtful accounts is based on an analysis of customer accounts and our historical experience with accounts receivable write-offs. Sales taxes (and value added taxes in foreign jurisdictions) collected from customers and remitted to governmental authorities are accounted for on a net basis and therefore are excluded from net sales. Foreign Currency Translation and Transactions The functional currency of our foreign operations is typically the applicable local currency. The functional currency is translated into United States dollars for balance sheet accounts, except retained earnings, using current exchange rates as of the balance sheet date, for retained earnings at historical exchange rates, and for revenue and expense accounts using a weighted average exchange rate during the period. The translation adjustments are deferred as a separate component of stockholders’ equity captioned accumulated other comprehensive (loss) income. Gains or losses resulting from transactions denominated in foreign currencies are included in operating and administrative expenses. Cash and Cash Equivalents We consider all investments purchased with original maturities of three months or less to be cash equivalents. Financial Instruments and Marketable Securities All financial instruments are carried at amounts that approximate fair value. The fair value is the price at which an asset could be exchanged in a current transaction between knowledgeable, willing parties. Assets measured at fair value are categorized based upon the lowest level of significant input to the valuations. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration. Level 3 inputs are unobservable inputs based upon our own assumptions used to measure assets and liabilities at fair value. In determining fair value we use observable market data when available. Due to the varying short-term cash needs of our business, we periodically have available-for-sale marketable securities. We did not have any marketable securities as of December 31, 2015 or December 31, 2014 . Available-for-sale securities are recorded at fair value based on current market value. Unrealized holding gains and losses on available-for-sale securities are excluded from earnings but are included in comprehensive income and are reported as a separate component of stockholders’ equity until realized, unless a decline in the market value of any available-for-sale security is below cost, then the amount is deemed other than temporary and is charged to net earnings, resulting in the establishment of a new cost basis for the security. Inventories Inventories, consisting of finished goods merchandise held for resale, are stated at the lower of cost (first in, first out method) or market. Property and Equipment Property and equipment are stated at cost. Depreciation on property and equipment is provided for using the straight-line method over the anticipated economic useful lives of the related property. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, we first compare undiscounted cash flows expected to be generated by the asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent the carrying value exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values, and third-party independent appraisals, as considered necessary. There were no impairments recorded during any of the three years reported in these consolidated financial statements. Leases We lease space under operating leases for certain distribution centers, stores, and manufacturing locations. These leases do not have significant rent escalation holidays, concessions, leasehold improvement incentives, or other build-out clauses. Any such terms are recognized as rent expense over the term of the lease. Further, the leases do not contain contingent rent provisions. Leasehold improvements on operating leases are amortized over their estimated service lives on a straight-line basis, or the remaining lease term, whichever is shorter. We lease certain semi-tractors, pick-ups, and equipment under operating leases. Other Long-Lived Assets Other assets consist of prepaid deposits, goodwill, non-compete agreements, and other related intangible assets. Goodwill represents the excess of the purchase price over the fair value of net assets acquired. Goodwill is reviewed for impairment annually. The non-compete and related intangible assets are amortized on a straight-line basis over their estimated life. Accounting Estimates The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates. Insurance Reserves We are self-insured for certain losses relating to medical, dental, workers’ compensation, and other casualty losses. Specific stop loss coverage is provided for catastrophic claims in order to limit exposure to significant claims. Losses and claims are charged to operations when it is probable a loss has been incurred and the amount can be reasonably estimated. Accrued insurance liabilities are based on claims filed but unpaid and estimates of claims incurred but not reported. Product Warranties We offer a basic limited warranty for certain of our products. The specific terms and conditions of those warranties vary depending upon the product sold. We typically recoup these costs through product warranties we hold with the original equipment manufacturers. Our warranty expense has historically been minimal. Stock-Based Compensation We estimate the value of stock option grants using a Black-Scholes valuation model. Stock-based compensation expense is recognized on a straight-line basis over the vesting period. Our stock-based compensation expense is recorded in operating and administrative expenses. We report the benefits of tax deductions in excess of recognized stock-based compensation as cash flows from financing activities, thereby reducing net cash flows from operating activities and increasing net cash flows from financing activities. Income Taxes We account for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. We recognize the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. We record interest and penalties related to unrecognized tax benefits in income tax expense. Earnings Per Share Basic net earnings per share is calculated using net earnings available to common stockholders divided by the weighted average number of shares of common stock outstanding during the year. Diluted net earnings per share is similar to basic net earnings per share except that the weighted average number of shares of common stock outstanding includes the incremental shares assumed to be issued upon the exercise of stock options considered to be ‘in-the-money’ (i.e. when the market price of our stock is greater than the exercise price of our outstanding stock options). Segment Reporting We have determined that we meet the aggregation criteria outlined in the accounting standards as our various operations have similar (1) economic characteristics, (2) products and services, (3) customers, (4) distribution channels, and (5) regulatory environments. Therefore, we report as a single business segment.

Long-Lived Assets

Long-Lived Assets	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment, Net, by Type [Abstract]
Long-Lived Assets	Note 2. Long-Lived Assets Property and equipment Property and equipment at year end consisted of the following: Depreciable Life in Years 2015 2014 Land — $ 37,671 36,511 Buildings and improvements 15 to 40 271,302 224,365 Automated storage and retrieval equipment 5 to 30 139,101 116,127 Equipment and shelving 3 to 10 614,528 519,635 Transportation equipment 3 to 5 61,429 59,459 Construction in progress — 200,892 237,637 1,324,923 1,193,734 Less accumulated depreciation (506,034 ) (429,845 ) Property and equipment, net $ 818,889 763,889

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2015
Accrued Liabilities, Current [Abstract]
Accrued Expenses	Note 3. Accrued Expenses Accrued expenses at year end consisted of the following: 2015 2014 Payroll and related taxes $ 24,407 21,928 Bonuses and commissions 15,441 20,910 Profit sharing contribution 13,669 11,460 Insurance 31,821 31,137 Promotions 25,261 23,224 Sales, real estate, and personal property taxes 66,563 58,716 Deferred revenue 2,875 3,125 Legal reserves 1,930 1,684 Other 3,176 1,818 Accrued expenses $ 185,143 174,002

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Note 4. Stockholders’ Equity Our authorized, issued, and outstanding shares (stated in whole numbers) at year end consisted of the following: Par Value 2015 2014 Preferred stock $0.01/share Shares authorized 5,000,000 5,000,000 Shares issued and outstanding — — Common stock $0.01/share Shares authorized 400,000,000 400,000,000 Shares issued and outstanding 289,581,682 295,867,844 Dividends On January 14, 2016 , our board of directors declared a quarterly dividend of $0.30 per share of common stock to be paid in cash on February 26, 2016 to shareholders of record at the close of business on January 29, 2016 . We paid aggregate annual dividends per share of $1.12 , $1.00 , and $0.80 in 2015 , 2014 , and 2013 , respectively. Stock Purchases Subsequent to December 31, 2015, we have purchased 1,600,000 shares of our common stock at an average price of approximately $37.15 per share. Stock Options The following tables summarize the details of grants made under our stock option plan that are still outstanding, and the assumptions used to value these grants. All options granted were effective at the close of business on the date of grant. Options Granted Option Exercise (Strike) Price Closing Stock Price on Date of Grant December 31, 2015 Date of Grant Options Outstanding Options Exercisable April 21, 2015 893,220 $ 42.00 $ 41.26 817,990 — April 22, 2014 955,000 $ 56.00 $ 50.53 797,500 5,000 April 16, 2013 205,000 $ 54.00 $ 49.25 125,000 2,500 April 17, 2012 1,235,000 $ 54.00 $ 49.01 1,039,500 341,250 April 19, 2011 410,000 $ 35.00 $ 31.78 250,300 150,300 April 20, 2010 530,000 $ 30.00 $ 27.13 210,350 120,350 April 21, 2009 790,000 $ 27.00 $ 17.61 293,100 200,600 April 15, 2008 550,000 $ 27.00 $ 24.35 147,750 122,750 April 17, 2007 4,380,000 $ 22.50 $ 20.15 849,492 849,492 Total 9,948,220 4,530,982 1,792,242 Date of Grant Risk-free Interest Rate Expected Life of Option in Years Expected Dividend Yield Expected Stock Volatility Estimated Fair Value of Stock Option April 21, 2015 1.3 % 5.00 2.7 % 26.84 % $ 7.35 April 22, 2014 1.8 % 5.00 2.0 % 28.55 % $ 9.57 April 16, 2013 0.7 % 5.00 1.6 % 37.42 % $ 12.66 April 17, 2012 0.9 % 5.00 1.4 % 39.25 % $ 13.69 April 19, 2011 2.1 % 5.00 1.6 % 39.33 % $ 11.20 April 20, 2010 2.6 % 5.00 1.5 % 39.10 % $ 8.14 April 21, 2009 1.9 % 5.00 1.0 % 38.80 % $ 3.64 April 15, 2008 2.7 % 5.00 1.0 % 30.93 % $ 7.75 April 17, 2007 4.6 % 4.85 1.0 % 31.59 % $ 5.63 All of the options in the tables above vest and become exercisable over a period of up to eight years. Generally, each option will terminate approximately nine years after the grant date. The fair value of each share-based option is estimated on the date of grant using a Black-Scholes valuation method that uses the assumptions listed above. The risk-free interest rate is based on the U.S. Treasury rate over the expected life of the option at the time of grant. The expected life is the average length of time over which we expect the employee groups will exercise their options, which is based on historical experience with similar grants. The dividend yield is estimated over the expected life of the option based on our current dividend payout, historical dividends paid, and expected future cash dividends. Expected stock volatilities are based on the movement of our stock over the most recent historical period equivalent to the expected life of the option. A summary of the activity under our stock option plan is as follows: Options Outstanding Exercise Price (1) Remaining Life (2) Outstanding as of January 1, 2015 4,712,330 $ 38.52 4.59 Granted 893,220 $ 42.00 8.41 Exercised (813,838 ) $ 23.47 Cancelled/forfeited (260,730 ) $ 45.84 Outstanding as of December 31, 2015 4,530,982 $ 41.49 4.89 Exercisable as of December 31, 2015 1,792,242 $ 31.00 2.15 Options Outstanding Exercise (1) Remaining Life (2) Outstanding as of January 1, 2014 4,356,630 $ 34.06 4.66 Granted 955,000 $ 56.00 8.41 Exercised (314,300 ) $ 24.49 Cancelled/forfeited (285,000 ) $ 44.39 Outstanding as of December 31, 2014 4,712,330 $ 38.52 4.59 Exercisable as of December 31, 2014 1,972,330 $ 27.89 2.51 (1) Weighted average exercise price. (2) Weighted average remaining contractual life in years. The total intrinsic value of stock options exercised during the years ended December 31, 2015 , 2014 , and 2013 was $14,174 , $7,466 , and $9,925 , respectively. The intrinsic value represents the difference between the exercise price and fair value of the underlying shares at the date of exercise. At December 31, 2015 , there was $15,073 of total unrecognized stock-based compensation expense related to outstanding unvested stock options granted under the plan. This expense is expected to be recognized over a weighted average period of 4.60 years. Any future change in estimated forfeitures will impact this amount. The total grant date fair value of stock options vesting under our stock option plan during 2015 , 2014 , and 2013 was $5,143 , $7,287 , and $3,508 , respectively. Total stock-based compensation expense related to our stock option plan was $5,841 , $7,039 , and $5,400 for 2015 , 2014 , and 2013 , respectively. Earnings Per Share The following tables present a reconciliation of the denominators used in the computation of basic and diluted earnings per share and a summary of the options to purchase shares of common stock which were excluded from the diluted earnings calculation because they were anti-dilutive: Reconciliation 2015 2014 2013 Basic weighted average shares outstanding 291,453,107 296,490,378 296,754,160 Weighted shares assumed upon exercise of stock options 592,335 822,866 929,428 Diluted weighted average shares outstanding 292,045,442 297,313,244 297,683,588 Summary of Anti-dilutive Options Excluded 2015 2014 2013 Options to purchase shares of common stock 2,611,367 1,903,767 1,273,527 Weighted average exercise prices of options $ 51.89 54.67 54.00 Any dilutive impact summarized above related to periods when the average market price of our stock exceeded the exercise price of the potentially dilutive options then outstanding.

Retirement Savings Plan

Retirement Savings Plan	12 Months Ended
	Dec. 31, 2015
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Retirement Savings Plan	Note 5. Retirement Savings Plan The Fastenal Company and Subsidiaries 401(k) and Employee Stock Ownership Plan covers all of our employees in the United States. Our employees in Canada may participate in a Registered Retirement Savings Plan. The general purpose of both of these plans is to provide additional financial security during retirement by providing employees with an incentive to make regular savings. In addition to the contributions of our employees, we make a profit sharing contribution on an annual basis based on an established formula. Our contribution expense under this profit sharing formula was approximately $13,669 , $11,460 , and $12,211 for 2015 , 2014 , and 2013 , respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Note 6. Income Taxes Earnings before income taxes were derived from the following sources: 2015 2014 2013 Domestic $ 785,916 757,896 697,062 Foreign 40,104 29,538 16,406 $ 826,020 787,434 713,468 Components of income tax expense (benefit) were as follows: 2015 : Current Deferred Total Federal $ 256,748 7,362 264,110 State 31,297 227 31,524 Foreign 13,677 348 14,025 $ 301,722 7,937 309,659 2014 : Current Deferred Total Federal $ 250,527 1,919 252,446 State 30,768 256 31,024 Foreign 10,518 (704 ) 9,814 $ 291,813 1,471 293,284 2013 : Current Deferred Total Federal $ 220,588 8,547 229,135 State 29,073 527 29,600 Foreign 7,487 (1,390 ) 6,097 $ 257,148 7,684 264,832 Income tax expense in the accompanying consolidated financial statements differed from the expected expense as follows: 2015 2014 2013 Federal income tax expense at the ‘expected’ rate of 35% $ 289,107 275,602 249,714 Increase (decrease) attributed to: State income taxes, net of federal benefit 21,613 20,549 16,683 Other, net (1,061 ) (2,867 ) (1,565 ) Total income tax expense $ 309,659 293,284 264,832 Effective income tax rate 37.5 % 37.2 % 37.1 % The tax effects of temporary differences that give rise to deferred income tax assets and liabilities at year end were as follows: 2015 2014 Deferred income tax assets (liabilities): Inventory costing and valuation methods $ 4,556 4,311 Allowance for doubtful accounts receivable 4,529 4,873 Insurance claims payable 10,930 10,404 Promotions payable 1,738 1,586 Stock-based compensation 8,270 7,837 Federal and state benefit of uncertain tax positions 1,911 1,327 Foreign net operating loss and credit carryforwards 5,155 5,768 Foreign valuation allowances (3,406 ) (3,007 ) Other, net 1,541 592 Total deferred income tax assets 35,224 33,691 Property and equipment (90,281 ) (80,458 ) Total deferred income tax liabilities (90,281 ) (80,458 ) Net deferred income tax liabilities $ (55,057 ) (46,767 ) In November 2015, the Financial Accounting Standards Board (FASB) issued ASU 2015-17, Income Taxes (Topic 740), to simplify the presentation of deferred income taxes. Under the new standard, both deferred tax liabilities and assets are required to be classified as noncurrent in a classified balance sheet. This standard will become effective for fiscal years, and the interim periods within those years, beginning after December 15, 2016, with early adoption allowed. As of December 31, 2014, we had deferred taxes that were classified as current assets and noncurrent liabilities. During the fourth quarter of 2015, we elected to prospectively adopt this standard, thus reclassifying $23,300 of current deferred tax assets to noncurrent (netted within noncurrent liabilities) on the accompanying consolidated balance sheet. The prior reporting period was not retrospectively adjusted. The adoption of this guidance had no impact on our Consolidated Statements of Earnings and Comprehensive Income. A reconciliation of the beginning and ending amount of total gross unrecognized tax benefits was as follows: 2015 2014 Balance at beginning of year: $ 3,772 3,282 Increase related to prior year tax positions 704 185 Decrease related to prior year tax positions (43 ) (113 ) Increase related to current year tax positions 984 924 Decrease related to statute of limitation lapses — (506 ) Balance at end of year: $ 5,417 3,772 Included in the liability for gross unrecognized tax benefits is an immaterial amount for interest and penalties, both of which we classify as a component of income tax expense. The amount of gross unrecognized tax benefits that would favorably impact the effective tax rate, if recognized, is not material. Fastenal files income tax returns in the United States federal jurisdiction, all states, and various local and foreign jurisdictions. With limited exceptions, we are no longer subject to income tax examinations by taxing authorities for taxable years before 2012 in the case of United States federal and foreign examinations and 2011 in the case of state and local examinations. In general, it is our practice and intention to permanently reinvest the earnings of our foreign subsidiaries and repatriate earnings only when the tax impact is zero or very minimal. As of December 31, 2015 , we have not made a provision for United States income taxes or for additional foreign withholding taxes on $140,000 of unremitted earnings. Generally, such amounts become subject to United States taxation upon the remittance of dividends and under certain other circumstances. It is not practicable to estimate the amount of deferred income tax liabilities related to investments in these foreign subsidiaries.

Geographic Information

Geographic Information	12 Months Ended
	Dec. 31, 2015
Segments, Geographical Areas [Abstract]
Geographic Information	Note 7. Geographic Information Our revenues and long-lived assets related to the following geographic areas: Revenues 2015 2014 2013 United States $ 3,441,141 3,308,226 2,951,673 Canada 223,270 238,590 227,756 Other foreign countries 204,776 186,691 146,677 $ 3,869,187 3,733,507 3,326,106 Long-Lived Assets 2015 2014 2013 United States $ 821,063 725,189 632,783 Canada 32,290 37,580 22,572 Other foreign countries 14,333 13,068 11,968 $ 867,686 775,837 667,323 The accounting policies of the operations in the various geographic areas are the same as those described in the summary of significant accounting policies. Long-lived assets consist of property and equipment, deposits, goodwill, and other intangibles. Revenues are attributed to countries based on the location of the store from which the sale occurred. No single customer represents more than 5% of our consolidated net sales.

Operating Leases

Operating Leases	12 Months Ended
	Dec. 31, 2015
Leases, Operating [Abstract]
Operating Leases	Note 8. Operating Leases We lease space under non-cancelable operating leases for several distribution centers, several manufacturing locations, and certain store locations. These leases do not have significant rent escalation holidays, concessions, leasehold improvement incentives, or other build-out clauses. Any such terms are recognized as rent expense over the term of the lease. Further, the leases do not contain contingent rent provisions. The net book value of leasehold improvements at December 31, 2015 was $2,858 . We lease certain semi-tractors and pick-ups under operating leases. Future minimum annual rentals for the leased facilities and equipment, and the leased vehicles, are as follows: Leased Facilities and Equipment Leased Vehicles Total 2016 $ 95,789 27,599 123,388 2017 68,833 17,713 86,546 2018 44,949 7,827 52,776 2019 24,486 1,442 25,928 2020 11,492 — 11,492 2021 and thereafter 1,579 — 1,579 $ 247,128 54,581 301,709 Rent expense under all operating leases was as follows: Leased Facilities and Equipment Leased Vehicles Total 2015 $ 105,961 38,178 144,139 2014 $ 103,294 35,731 139,025 2013 $ 99,483 32,907 132,390 Certain operating leases for pick-up trucks contain residual value guarantee provisions which would generally become due at the expiration of the operating lease agreement if the fair value of the leased vehicles is less than the guaranteed residual value. The aggregate residual value guarantee related to these leases was approximately $61,304 . We believe the likelihood of funding the guarantee obligation under any provision of the operating lease agreements is remote other than where we have established an accrual for estimated losses, which was immaterial at December 31, 2015 . To the extent our fleet contains vehicles we estimate will settle at a gain, such gains on these vehicles will be recognized when we sell the vehicle.

Debt Commitments and Contingenc

Debt Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Debt Commitments and Contingencies	Note 9. Debt Commitments and Contingencies Credit Facility, Note, and Commitments Debt obligations and undrawn letters of credit outstanding at year-end were as follows: 2015 2014 Outstanding loans under unsecured revolving credit facility $ 350,000 90,000 Note 15,000 — Total debt 365,000 90,000 Less: Current portion of debt (62,050 ) (90,000 ) Long-term debt $ 302,950 — Undrawn letters of credit under unsecured revolving credit facility - face amount $ 36,266 37,315 Unsecured Revolving Credit Facility We have a $700,000 unsecured revolving credit facility ('Credit Facility'). The Credit Facility includes a committed letter of credit subfacility of $55,000 . The commitments under the Credit Facility will expire (and any borrowings outstanding under the Credit Facility will become due and payable) on March 1, 2018 . In the next twelve months, we have the ability and intent to repay a portion of the outstanding line of credit obligations using cash; therefore, we have classified this portion of the line of credit as a current liability. The Credit Facility contains certain financial and other covenants, and our right to borrow under the Credit Facility is conditioned upon, among other things, our compliance with these covenants. We are currently in compliance with these covenants. Borrowings under the Credit Facility generally bear interest at a rate per annum equal to the London Interbank Offered Rate ('LIBOR') for interest periods of various lengths selected by us, plus 0.95% . A change in LIBOR impacts the interest rate on our borrowings, which in turn impacts interest expense incurred and cash flows. Based on the interest periods we have chosen, our weighted per annum interest rate at December 31, 2015 was approximately 1.4% . We pay a commitment fee for the unused portion of the Credit Facility. This fee is either 0.10% or 0.125% per annum based on our usage of the Credit Facility. Note On December 7, 2015, we signed an agreement to acquire, effective January 2, 2017, certain assets related to the collection and management of certain portions of our business and financial data from Apex Industrial Technologies, LLC ('Apex'), a provider of automated point-of-use dispensing and supply chain technologies. The agreement includes a transition arrangement which requires us to assume responsibility for certain software that is licensed by Apex assuming that hosting services are transitioned from Apex to us. The total consideration for the assets and transition arrangement is $27,000 , of which $12,000 was paid in cash in December 2015 to cover costs associated with decoupling systems and programs, transition planning expenses, completing system enhancements, and engaging in training to effectively and efficiently transfer hosting activities to us. The remaining $15,000 is payable pursuant to an unsecured note and covers equipment costs and post transfer expenses related to the transition. Payment of the $15,000 is dependent upon the transfer of hosting activities to us. We also reserve the right to terminate the transition of hosting services from Apex to us and, if we decide to exercise that option, then we will not be required to make the $15,000 payment and Apex will continue to provide us with fee-based hosting services. The note bears interest at an annual rate of 0.56% . Interest on the unpaid principal balance of the note is due and payable on the last day of each calendar quarter, commencing on December 31, 2015. The $12,000 payment is included in our Consolidated Statements of Cash Flows for 2015, as net cash used in investing activities in 'Other', and the $15,000 note represents a non-cash investing and financing activity. Annual maturities of the note are as follows: Total 2016 $ 5,000 2017 10,000 $ 15,000 Legal Contingencies We are involved in certain legal actions. The outcomes of these legal actions are not within our complete control and may not be known for prolonged periods of time. In some actions, the claimants seek damages, as well as other relief, that could require significant expenditures or result in lost revenues. We record a liability for these legal actions when a loss is known or considered probable and the amount can be reasonably estimated. If the reasonable estimate of a known or probable loss is a range, and no amount within the range is a better estimate than any other, the minimum amount of the range is accrued. If a loss is reasonably possible but not known or probable, and can be reasonably estimated, the estimated loss or range of loss is disclosed. In most cases, significant judgment is required to estimate the amount and timing of a loss to be recorded. As of December 31, 2015 , there were no litigation matters that we consider to be probable or reasonably possible to have a material adverse outcome.

Sales by Product Line

Sales by Product Line	12 Months Ended
	Dec. 31, 2015
Sales by Product Line [Abstract]
Sales by Product Line	Note 10. Sales by Product Line The percentages of our net sales by product line were as follows: Type Introduced 2015 2014 2013 Fasteners (1) 1967 38.3% 40.2% 42.1% Tools 1993 9.5% 9.3% 9.2% Cutting tools 1996 5.6% 5.5% 5.4% Hydraulics & pneumatics 1996 7.2% 7.2% 7.3% Material handling 1996 6.5% 6.1% 5.7% Janitorial supplies 1996 7.5% 7.3% 7.0% Electrical supplies 1997 4.7% 4.7% 4.6% Welding supplies (2) 1997 4.7% 4.7% 4.5% Safety supplies (3) 1999 13.9% 12.8% 11.2% Metals 2001 0.5% 0.4% 0.5% Direct ship (4) 2004 0.4% 1.0% 1.5% Office supplies 2010 0.1% 0.1% 0.1% Other 1.1% 0.7% 0.9% 100.0% 100.0% 100.0% (1) Fastener product line represents fasteners and miscellaneous supplies. (2) We do not sell welding gases. (3) The safety supplies product line has expanded, as a percentage of sales, in the last several years due to our industrial vending program. (4) Direct ship represents a cross section of products from the remaining product lines. The items included here represent certain items with historically low margins which are shipped directly from our distribution channel to our customers, bypassing our store network.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Note 11. Subsequent Events We evaluated all subsequent event activity and concluded that no subsequent events have occurred that would require recognition in the consolidated financial statements or disclosure in the Notes to Consolidated Financial Statements, with the exception of the dividend declaration and stock purchases disclosed in Note 4.

New Accounting Pronouncements

New Accounting Pronouncements	12 Months Ended
	Dec. 31, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements	Note 12. New Accounting Pronouncements In July 2015, the FASB issued Accounting Standards Update (ASU) 2015-11, Simplifying the Measurement of Inventory which changes the measurement principle for inventory for entities using first-in, first-out (FIFO) or average cost from the lower of cost or market to lower of cost and net realizable value. This standard defines net realizable value as estimated selling prices in the ordinary course of business less reasonably predictable costs of completion, disposal, and transportation. The guidance is effective for reporting periods beginning after December 15, 2016 and interim periods within those fiscal years with early adoption permitted. This standard should be applied prospectively. We are evaluating the impact of the future adoption of this standard, but we do not expect the adoption to have a material effect on our consolidated financial statements. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date (ASU 2015-14), which defers the effective date of ASU 2014-09 for all entities by one year. This update is effective for public business entities for annual reporting periods beginning after December 15, 2017, including interim periods within those reporting periods. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. ASU 2014-09 was to become effective for us beginning January 2017. ASU 2015-14 defers our effective date until January 2018. We are evaluating the impact this ASU will have on our consolidated financial statements and related disclosures. We have not yet selected a transition method nor have we determined the effect of the standard on our ongoing financial reporting. In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740), to simplify the presentation of deferred income taxes. During the fourth quarter of 2015, we elected to prospectively adopt this standard. Additional information regarding our adoption of this standard is contained in Note 6 of the Notes to Consolidated Financial Statements.

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2015
Selected Quarterly Financial Information [Abstract]
Selected Quarterly Financial Data (Unaudited)	Note 13. Selected Quarterly Financial Data (Unaudited) (Amounts in thousands except per share information) 2015 : Net Sales Gross Profit Pre-tax Earnings Net Earnings Basic Net Diluted Net Earnings per Share First quarter $ 953,317 484,050 203,512 127,606 0.43 0.43 Second quarter 997,827 502,087 225,099 140,357 0.48 0.48 Third quarter 995,250 502,225 219,204 136,494 0.47 0.47 Fourth quarter 922,793 460,572 178,205 111,904 0.39 0.39 Total $ 3,869,187 1,948,934 826,020 516,361 1.77 1.77 2014 : Net Sales Gross Profit Pre-tax Earnings Net Earnings Basic Net Earnings per Share Diluted Net Earnings per Share First quarter $ 876,501 448,478 178,845 111,931 0.38 0.38 Second quarter 949,938 482,667 206,782 130,514 0.44 0.44 Third quarter 980,814 498,693 212,988 133,314 0.45 0.45 Fourth quarter 926,254 467,564 188,819 118,391 0.40 0.40 Total $ 3,733,507 1,897,402 787,434 494,150 1.67 1.66

Schedule II-Valuation and Quali

Schedule II-Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2015
Valuation and Qualifying Accounts [Abstract]
Schedule II-Valuation and Qualifying Accounts	Schedule II—Valuation and Qualifying Accounts Years ended December 31, 2015 , 2014 , and 2013 (Amounts in thousands) Description Balance at Beginning of Year “Additions” Charged to Costs and Expenses “Other” Additions (Deductions) “Less” Deductions Balance at End of Year Year ended December 31, 2015 Allowance for doubtful accounts $ 12,619 8,769 — 9,659 11,729 Insurance reserves $ 31,137 54,341 (1) — 53,657 (2) 31,821 Year ended December 31, 2014 Allowance for doubtful accounts $ 9,248 11,480 — 8,109 12,619 Insurance reserves $ 30,880 52,858 (1) — 52,601 (2) 31,137 Year ended December 31, 2013 Allowance for doubtful accounts $ 6,728 9,421 — 6,901 9,248 Insurance reserves $ 25,188 52,658 (1) — 46,966 (2) 30,880 (1) Includes costs and expenses incurred for premiums and claims related to health and general insurance. (2) Includes costs and expenses paid for premiums and claims related to health and general insurance. See accompanying Report of Independent Registered Public Accounting Firm incorporated herein by reference.

Business Overview and Summary23

Business Overview and Summary of Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2015
Business Overview and Summary of Significant Accounting Policies [Abstract]
Principles of Consolidation	The consolidated financial statements include the accounts of Fastenal Company and its subsidiaries (collectively referred to as ‘Fastenal’ or by terms such as ‘we’, ‘our’, or ‘us’). All material intercompany balances and transactions have been eliminated in consolidation.
Revenue Recognition and Accounts Receivable	Net sales include products, services, and shipping and handling charges billed, net of any related sales incentives, and net of an estimate for product returns. We recognize revenue when persuasive evidence of an arrangement exists, title and risk of ownership have passed, the sales price is fixed or determinable, and collectibility is reasonably assured. These criteria are met at the time the product is shipped to or picked up by the customer. We recognize services at the time the service is completed and product is provided to the customer. We recognize revenue for shipping and handling charges billed at the time the products are shipped to or picked up by the customer. We estimate product returns based on historical return rates. Accounts receivable are stated at their estimated net realizable value. The allowance for doubtful accounts is based on an analysis of customer accounts and our historical experience with accounts receivable write-offs. Sales taxes (and value added taxes in foreign jurisdictions) collected from customers and remitted to governmental authorities are accounted for on a net basis and therefore are excluded from net sales.
Foreign Currency Translation and Transactions	The functional currency of our foreign operations is typically the applicable local currency. The functional currency is translated into United States dollars for balance sheet accounts, except retained earnings, using current exchange rates as of the balance sheet date, for retained earnings at historical exchange rates, and for revenue and expense accounts using a weighted average exchange rate during the period. The translation adjustments are deferred as a separate component of stockholders’ equity captioned accumulated other comprehensive (loss) income. Gains or losses resulting from transactions denominated in foreign currencies are included in operating and administrative expenses.
Cash and Cash Equivalents	We consider all investments purchased with original maturities of three months or less to be cash equivalents.
Financial Instruments and Marketable Securities	All financial instruments are carried at amounts that approximate fair value. The fair value is the price at which an asset could be exchanged in a current transaction between knowledgeable, willing parties. Assets measured at fair value are categorized based upon the lowest level of significant input to the valuations. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration. Level 3 inputs are unobservable inputs based upon our own assumptions used to measure assets and liabilities at fair value. In determining fair value we use observable market data when available. Due to the varying short-term cash needs of our business, we periodically have available-for-sale marketable securities. We did not have any marketable securities as of December 31, 2015 or December 31, 2014 . Available-for-sale securities are recorded at fair value based on current market value. Unrealized holding gains and losses on available-for-sale securities are excluded from earnings but are included in comprehensive income and are reported as a separate component of stockholders’ equity until realized, unless a decline in the market value of any available-for-sale security is below cost, then the amount is deemed other than temporary and is charged to net earnings, resulting in the establishment of a new cost basis for the security.
Inventories	Inventories, consisting of finished goods merchandise held for resale, are stated at the lower of cost (first in, first out method) or market.
Property and Equipment	Property and equipment are stated at cost. Depreciation on property and equipment is provided for using the straight-line method over the anticipated economic useful lives of the related property. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, we first compare undiscounted cash flows expected to be generated by the asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent the carrying value exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values, and third-party independent appraisals, as considered necessary. There were no impairments recorded during any of the three years reported in these consolidated financial statements.
Leases	We lease space under operating leases for certain distribution centers, stores, and manufacturing locations. These leases do not have significant rent escalation holidays, concessions, leasehold improvement incentives, or other build-out clauses. Any such terms are recognized as rent expense over the term of the lease. Further, the leases do not contain contingent rent provisions. Leasehold improvements on operating leases are amortized over their estimated service lives on a straight-line basis, or the remaining lease term, whichever is shorter. We lease certain semi-tractors, pick-ups, and equipment under operating leases.
Other Long-Lived Assets	Other assets consist of prepaid deposits, goodwill, non-compete agreements, and other related intangible assets. Goodwill represents the excess of the purchase price over the fair value of net assets acquired. Goodwill is reviewed for impairment annually. The non-compete and related intangible assets are amortized on a straight-line basis over their estimated life.
Accounting Estimates	The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates.
Insurance Reserves	We are self-insured for certain losses relating to medical, dental, workers’ compensation, and other casualty losses. Specific stop loss coverage is provided for catastrophic claims in order to limit exposure to significant claims. Losses and claims are charged to operations when it is probable a loss has been incurred and the amount can be reasonably estimated. Accrued insurance liabilities are based on claims filed but unpaid and estimates of claims incurred but not reported.
Product Warranties	We offer a basic limited warranty for certain of our products. The specific terms and conditions of those warranties vary depending upon the product sold. We typically recoup these costs through product warranties we hold with the original equipment manufacturers. Our warranty expense has historically been minimal.
Stock-Based Compensation	We estimate the value of stock option grants using a Black-Scholes valuation model. Stock-based compensation expense is recognized on a straight-line basis over the vesting period. Our stock-based compensation expense is recorded in operating and administrative expenses. We report the benefits of tax deductions in excess of recognized stock-based compensation as cash flows from financing activities, thereby reducing net cash flows from operating activities and increasing net cash flows from financing activities.
Income Taxes	We account for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. We recognize the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. We record interest and penalties related to unrecognized tax benefits in income tax expense.
Earnings Per Share	Basic net earnings per share is calculated using net earnings available to common stockholders divided by the weighted average number of shares of common stock outstanding during the year. Diluted net earnings per share is similar to basic net earnings per share except that the weighted average number of shares of common stock outstanding includes the incremental shares assumed to be issued upon the exercise of stock options considered to be ‘in-the-money’ (i.e. when the market price of our stock is greater than the exercise price of our outstanding stock options).
Segment Reporting	We have determined that we meet the aggregation criteria outlined in the accounting standards as our various operations have similar (1) economic characteristics, (2) products and services, (3) customers, (4) distribution channels, and (5) regulatory environments. Therefore, we report as a single business segment.

Long-Lived Assets (Tables)

Long-Lived Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment, Net, by Type [Abstract]
Schedule Of Property And Equipment	Property and equipment at year end consisted of the following: Depreciable Life in Years 2015 2014 Land — $ 37,671 36,511 Buildings and improvements 15 to 40 271,302 224,365 Automated storage and retrieval equipment 5 to 30 139,101 116,127 Equipment and shelving 3 to 10 614,528 519,635 Transportation equipment 3 to 5 61,429 59,459 Construction in progress — 200,892 237,637 1,324,923 1,193,734 Less accumulated depreciation (506,034 ) (429,845 ) Property and equipment, net $ 818,889 763,889

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2015
Accrued Liabilities, Current [Abstract]
Schedule Of Accrued Expenses	Accrued expenses at year end consisted of the following: 2015 2014 Payroll and related taxes $ 24,407 21,928 Bonuses and commissions 15,441 20,910 Profit sharing contribution 13,669 11,460 Insurance 31,821 31,137 Promotions 25,261 23,224 Sales, real estate, and personal property taxes 66,563 58,716 Deferred revenue 2,875 3,125 Legal reserves 1,930 1,684 Other 3,176 1,818 Accrued expenses $ 185,143 174,002

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2015
Stockholders' Equity Note [Abstract]
Authorized, Issued and Outstanding Shares	Our authorized, issued, and outstanding shares (stated in whole numbers) at year end consisted of the following: Par Value 2015 2014 Preferred stock $0.01/share Shares authorized 5,000,000 5,000,000 Shares issued and outstanding — — Common stock $0.01/share Shares authorized 400,000,000 400,000,000 Shares issued and outstanding 289,581,682 295,867,844
Stock Option Plan Activity and Stock Options Granted	The following tables summarize the details of grants made under our stock option plan that are still outstanding, and the assumptions used to value these grants. All options granted were effective at the close of business on the date of grant. Options Granted Option Exercise (Strike) Price Closing Stock Price on Date of Grant December 31, 2015 Date of Grant Options Outstanding Options Exercisable April 21, 2015 893,220 $ 42.00 $ 41.26 817,990 — April 22, 2014 955,000 $ 56.00 $ 50.53 797,500 5,000 April 16, 2013 205,000 $ 54.00 $ 49.25 125,000 2,500 April 17, 2012 1,235,000 $ 54.00 $ 49.01 1,039,500 341,250 April 19, 2011 410,000 $ 35.00 $ 31.78 250,300 150,300 April 20, 2010 530,000 $ 30.00 $ 27.13 210,350 120,350 April 21, 2009 790,000 $ 27.00 $ 17.61 293,100 200,600 April 15, 2008 550,000 $ 27.00 $ 24.35 147,750 122,750 April 17, 2007 4,380,000 $ 22.50 $ 20.15 849,492 849,492 Total 9,948,220 4,530,982 1,792,242 A summary of the activity under our stock option plan is as follows: Options Outstanding Exercise Price (1) Remaining Life (2) Outstanding as of January 1, 2015 4,712,330 $ 38.52 4.59 Granted 893,220 $ 42.00 8.41 Exercised (813,838 ) $ 23.47 Cancelled/forfeited (260,730 ) $ 45.84 Outstanding as of December 31, 2015 4,530,982 $ 41.49 4.89 Exercisable as of December 31, 2015 1,792,242 $ 31.00 2.15 Options Outstanding Exercise (1) Remaining Life (2) Outstanding as of January 1, 2014 4,356,630 $ 34.06 4.66 Granted 955,000 $ 56.00 8.41 Exercised (314,300 ) $ 24.49 Cancelled/forfeited (285,000 ) $ 44.39 Outstanding as of December 31, 2014 4,712,330 $ 38.52 4.59 Exercisable as of December 31, 2014 1,972,330 $ 27.89 2.51 (1) Weighted average exercise price. (2) Weighted average remaining contractual life in years.
Fair Value Assumptions for Options Granted	Date of Grant Risk-free Interest Rate Expected Life of Option in Years Expected Dividend Yield Expected Stock Volatility Estimated Fair Value of Stock Option April 21, 2015 1.3 % 5.00 2.7 % 26.84 % $ 7.35 April 22, 2014 1.8 % 5.00 2.0 % 28.55 % $ 9.57 April 16, 2013 0.7 % 5.00 1.6 % 37.42 % $ 12.66 April 17, 2012 0.9 % 5.00 1.4 % 39.25 % $ 13.69 April 19, 2011 2.1 % 5.00 1.6 % 39.33 % $ 11.20 April 20, 2010 2.6 % 5.00 1.5 % 39.10 % $ 8.14 April 21, 2009 1.9 % 5.00 1.0 % 38.80 % $ 3.64 April 15, 2008 2.7 % 5.00 1.0 % 30.93 % $ 7.75 April 17, 2007 4.6 % 4.85 1.0 % 31.59 % $ 5.63
Reconciliation of Denominators used in Computation of Basic and Diluted Earnings per Share	The following tables present a reconciliation of the denominators used in the computation of basic and diluted earnings per share and a summary of the options to purchase shares of common stock which were excluded from the diluted earnings calculation because they were anti-dilutive: Reconciliation 2015 2014 2013 Basic weighted average shares outstanding 291,453,107 296,490,378 296,754,160 Weighted shares assumed upon exercise of stock options 592,335 822,866 929,428 Diluted weighted average shares outstanding 292,045,442 297,313,244 297,683,588
Anti-Dilutive Options Excluded	Summary of Anti-dilutive Options Excluded 2015 2014 2013 Options to purchase shares of common stock 2,611,367 1,903,767 1,273,527 Weighted average exercise prices of options $ 51.89 54.67 54.00

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Earnings Before Income Taxes	Earnings before income taxes were derived from the following sources: 2015 2014 2013 Domestic $ 785,916 757,896 697,062 Foreign 40,104 29,538 16,406 $ 826,020 787,434 713,468
Components Of Income Tax Expense (Benefit)	Components of income tax expense (benefit) were as follows: 2015 : Current Deferred Total Federal $ 256,748 7,362 264,110 State 31,297 227 31,524 Foreign 13,677 348 14,025 $ 301,722 7,937 309,659 2014 : Current Deferred Total Federal $ 250,527 1,919 252,446 State 30,768 256 31,024 Foreign 10,518 (704 ) 9,814 $ 291,813 1,471 293,284 2013 : Current Deferred Total Federal $ 220,588 8,547 229,135 State 29,073 527 29,600 Foreign 7,487 (1,390 ) 6,097 $ 257,148 7,684 264,832
Difference In Income Tax Expense And Expected Expense	Income tax expense in the accompanying consolidated financial statements differed from the expected expense as follows: 2015 2014 2013 Federal income tax expense at the ‘expected’ rate of 35% $ 289,107 275,602 249,714 Increase (decrease) attributed to: State income taxes, net of federal benefit 21,613 20,549 16,683 Other, net (1,061 ) (2,867 ) (1,565 ) Total income tax expense $ 309,659 293,284 264,832 Effective income tax rate 37.5 % 37.2 % 37.1 %
Summary Of Temporary Differences That Give Rise To Deferred Income Tax Assets And Liabilities	The tax effects of temporary differences that give rise to deferred income tax assets and liabilities at year end were as follows: 2015 2014 Deferred income tax assets (liabilities): Inventory costing and valuation methods $ 4,556 4,311 Allowance for doubtful accounts receivable 4,529 4,873 Insurance claims payable 10,930 10,404 Promotions payable 1,738 1,586 Stock-based compensation 8,270 7,837 Federal and state benefit of uncertain tax positions 1,911 1,327 Foreign net operating loss and credit carryforwards 5,155 5,768 Foreign valuation allowances (3,406 ) (3,007 ) Other, net 1,541 592 Total deferred income tax assets 35,224 33,691 Property and equipment (90,281 ) (80,458 ) Total deferred income tax liabilities (90,281 ) (80,458 ) Net deferred income tax liabilities $ (55,057 ) (46,767 )
Reconciliation Of The Beginning And Ending Amount Of Total Gross Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of total gross unrecognized tax benefits was as follows: 2015 2014 Balance at beginning of year: $ 3,772 3,282 Increase related to prior year tax positions 704 185 Decrease related to prior year tax positions (43 ) (113 ) Increase related to current year tax positions 984 924 Decrease related to statute of limitation lapses — (506 ) Balance at end of year: $ 5,417 3,772

Geographic Information (Tables)

Geographic Information (Tables)	12 Months Ended
	Dec. 31, 2015
Segments, Geographical Areas [Abstract]
Revenues By Geographic Areas	Our revenues and long-lived assets related to the following geographic areas: Revenues 2015 2014 2013 United States $ 3,441,141 3,308,226 2,951,673 Canada 223,270 238,590 227,756 Other foreign countries 204,776 186,691 146,677 $ 3,869,187 3,733,507 3,326,106
Long-Lived Assets By Geographic Areas	Long-Lived Assets 2015 2014 2013 United States $ 821,063 725,189 632,783 Canada 32,290 37,580 22,572 Other foreign countries 14,333 13,068 11,968 $ 867,686 775,837 667,323

Operating Leases (Tables)

Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2015
Leases, Operating [Abstract]
Future Minimum Annual Rentals	Future minimum annual rentals for the leased facilities and equipment, and the leased vehicles, are as follows: Leased Facilities and Equipment Leased Vehicles Total 2016 $ 95,789 27,599 123,388 2017 68,833 17,713 86,546 2018 44,949 7,827 52,776 2019 24,486 1,442 25,928 2020 11,492 — 11,492 2021 and thereafter 1,579 — 1,579 $ 247,128 54,581 301,709
Rent Expense	Rent expense under all operating leases was as follows: Leased Facilities and Equipment Leased Vehicles Total 2015 $ 105,961 38,178 144,139 2014 $ 103,294 35,731 139,025 2013 $ 99,483 32,907 132,390

Debt Commitments and Continge30

Debt Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of Debt Obligations and Undrawn Letters of Credit Outstanding	Debt obligations and undrawn letters of credit outstanding at year-end were as follows: 2015 2014 Outstanding loans under unsecured revolving credit facility $ 350,000 90,000 Note 15,000 — Total debt 365,000 90,000 Less: Current portion of debt (62,050 ) (90,000 ) Long-term debt $ 302,950 — Undrawn letters of credit under unsecured revolving credit facility - face amount $ 36,266 37,315
Schedule of Annual Maturities of Note	Annual maturities of the note are as follows: Total 2016 $ 5,000 2017 10,000 $ 15,000

Sales by Product Line (Tables)

Sales by Product Line (Tables)	12 Months Ended
	Dec. 31, 2015
Sales by Product Line [Abstract]
Percentages Of Net Sales By Product Line	The percentages of our net sales by product line were as follows: Type Introduced 2015 2014 2013 Fasteners (1) 1967 38.3% 40.2% 42.1% Tools 1993 9.5% 9.3% 9.2% Cutting tools 1996 5.6% 5.5% 5.4% Hydraulics & pneumatics 1996 7.2% 7.2% 7.3% Material handling 1996 6.5% 6.1% 5.7% Janitorial supplies 1996 7.5% 7.3% 7.0% Electrical supplies 1997 4.7% 4.7% 4.6% Welding supplies (2) 1997 4.7% 4.7% 4.5% Safety supplies (3) 1999 13.9% 12.8% 11.2% Metals 2001 0.5% 0.4% 0.5% Direct ship (4) 2004 0.4% 1.0% 1.5% Office supplies 2010 0.1% 0.1% 0.1% Other 1.1% 0.7% 0.9% 100.0% 100.0% 100.0% (1) Fastener product line represents fasteners and miscellaneous supplies. (2) We do not sell welding gases. (3) The safety supplies product line has expanded, as a percentage of sales, in the last several years due to our industrial vending program. (4) Direct ship represents a cross section of products from the remaining product lines. The items included here represent certain items with historically low margins which are shipped directly from our distribution channel to our customers, bypassing our store network.

Selected Quarterly Financial 32

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Selected Quarterly Financial Information [Abstract]
Schedule of Quarterly Financial Information	(Amounts in thousands except per share information) 2015 : Net Sales Gross Profit Pre-tax Earnings Net Earnings Basic Net Diluted Net Earnings per Share First quarter $ 953,317 484,050 203,512 127,606 0.43 0.43 Second quarter 997,827 502,087 225,099 140,357 0.48 0.48 Third quarter 995,250 502,225 219,204 136,494 0.47 0.47 Fourth quarter 922,793 460,572 178,205 111,904 0.39 0.39 Total $ 3,869,187 1,948,934 826,020 516,361 1.77 1.77 2014 : Net Sales Gross Profit Pre-tax Earnings Net Earnings Basic Net Earnings per Share Diluted Net Earnings per Share First quarter $ 876,501 448,478 178,845 111,931 0.38 0.38 Second quarter 949,938 482,667 206,782 130,514 0.44 0.44 Third quarter 980,814 498,693 212,988 133,314 0.45 0.45 Fourth quarter 926,254 467,564 188,819 118,391 0.40 0.40 Total $ 3,733,507 1,897,402 787,434 494,150 1.67 1.66

Business Overview and Summary33

Business Overview and Summary of Significant Accounting Policies - Additional Information (Details)	Dec. 31, 2015location
Business Overview and Summary of Significant Accounting Policies [Abstract]
Approximate number of store locations	2,600

Long-Lived Assets (Details)

Long-Lived Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Property and Equipment, Net [Line Items]
Property and equipment	$ 1,324,923	$ 1,193,734
Less accumulated depreciation	(506,034)	(429,845)
Property and equipment, net	818,889	763,889
Land [Member]
Property and Equipment, Net [Line Items]
Property and equipment	37,671	36,511
Buildings And Improvements [Member]
Property and Equipment, Net [Line Items]
Property and equipment	271,302	224,365
Automated Storage And Retrieval Equipment [Member]
Property and Equipment, Net [Line Items]
Property and equipment	139,101	116,127
Equipment And Shelving [Member]
Property and Equipment, Net [Line Items]
Property and equipment	614,528	519,635
Transportation Equipment [Member]
Property and Equipment, Net [Line Items]
Property and equipment	61,429	59,459
Construction In Progress [Member]
Property and Equipment, Net [Line Items]
Property and equipment	$ 200,892	$ 237,637
Minimum [Member] | Buildings And Improvements [Member]
Property and Equipment, Net [Line Items]
Depreciable life in years	15 years
Minimum [Member] | Automated Storage And Retrieval Equipment [Member]
Property and Equipment, Net [Line Items]
Depreciable life in years	5 years
Minimum [Member] | Equipment And Shelving [Member]
Property and Equipment, Net [Line Items]
Depreciable life in years	3 years
Minimum [Member] | Transportation Equipment [Member]
Property and Equipment, Net [Line Items]
Depreciable life in years	3 years
Maximum [Member] | Buildings And Improvements [Member]
Property and Equipment, Net [Line Items]
Depreciable life in years	40 years
Maximum [Member] | Automated Storage And Retrieval Equipment [Member]
Property and Equipment, Net [Line Items]
Depreciable life in years	30 years
Maximum [Member] | Equipment And Shelving [Member]
Property and Equipment, Net [Line Items]
Depreciable life in years	10 years
Maximum [Member] | Transportation Equipment [Member]
Property and Equipment, Net [Line Items]
Depreciable life in years	5 years

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Accrued Liabilities, Current [Abstract]
Payroll and related taxes	$ 24,407	$ 21,928
Bonuses and commissions	15,441	20,910
Profit sharing contribution	13,669	11,460
Insurance	31,821	31,137
Promotions	25,261	23,224
Sales, real estate, and personal property taxes	66,563	58,716
Deferred revenue	2,875	3,125
Legal reserves	1,930	1,684
Other	3,176	1,818
Accrued expenses	$ 185,143	$ 174,002

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 14, 2016	Feb. 05, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Stockholders' Equity Note [Abstract]
Dividends paid per share (in dollars per share)			$ 1.12	$ 1	$ 0.80
Options vesting and exercisable period, maximum			8 years
Total intrinsic value of stock options exercised			$ 14,174	$ 7,466	$ 9,925
Total unrecognized stock-based compensation expense			$ 15,073
Weighted average period over which total unrecognized stock-based compensation expense will be recognized			4 years 7 months 6 days
Total grant date fair value of stock options vesting			$ 5,143	7,287	3,508
Total stock-based compensation expense			$ 5,841	$ 7,039	$ 5,400
Options termination period			9 years
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividend declared per share (in dollars per share)	$ 0.30
Purchases of common stock (in shares)		1,600,000
Weighted Average [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Price of common stock purchased (in dollars per share)		$ 37.15

Stockholders' Equity (Authorize

Stockholders' Equity (Authorized, Issued and Outstanding Shares) (Details) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Stockholders' Equity Note [Abstract]
Preferred stock, Par Value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, Shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, Shares issued (in shares)	0	0
Preferred stock, Shares outstanding (in shares)	0	0
Common stock, Par Value (in dollars per share)	$ 0.01	$ 0.01
Common stock, Shares authorized (in shares)	400,000,000	400,000,000
Common stock, Shares issued (in shares)	289,581,682	295,867,844
Common stock, Shares outstanding (in shares)	289,581,682	295,867,844

Stockholders' Equity (Stock Opt

Stockholders' Equity (Stock Options Granted) (Details)	12 Months Ended	104 Months Ended
	Dec. 31, 2015$ / sharesshares	Dec. 31, 2015$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted (in shares)		9,948,220
Options Outstanding (in shares)	4,530,982	4,530,982
Options Exercisable (in shares)	1,792,242	1,792,242
April 21, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted (in shares)	893,220
Option Exercise (Strike) Price (in dollars per share) | $ / shares	$ 42
Closing Stock Price on Date of Grant (in dollars per share) | $ / shares	$ 41.26	$ 41.26
Options Outstanding (in shares)	817,990	817,990
Options Exercisable (in shares)	0	0
April 22, 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted (in shares)	955,000
Option Exercise (Strike) Price (in dollars per share) | $ / shares	$ 56
Closing Stock Price on Date of Grant (in dollars per share) | $ / shares	$ 50.53	$ 50.53
Options Outstanding (in shares)	797,500	797,500
Options Exercisable (in shares)	5,000	5,000
April 16, 2013 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted (in shares)	205,000
Option Exercise (Strike) Price (in dollars per share) | $ / shares	$ 54
Closing Stock Price on Date of Grant (in dollars per share) | $ / shares	$ 49.25	$ 49.25
Options Outstanding (in shares)	125,000	125,000
Options Exercisable (in shares)	2,500	2,500
April 17, 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted (in shares)	1,235,000
Option Exercise (Strike) Price (in dollars per share) | $ / shares	$ 54
Closing Stock Price on Date of Grant (in dollars per share) | $ / shares	$ 49.01	$ 49.01
Options Outstanding (in shares)	1,039,500	1,039,500
Options Exercisable (in shares)	341,250	341,250
April 19, 2011 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted (in shares)	410,000
Option Exercise (Strike) Price (in dollars per share) | $ / shares	$ 35
Closing Stock Price on Date of Grant (in dollars per share) | $ / shares	$ 31.78	$ 31.78
Options Outstanding (in shares)	250,300	250,300
Options Exercisable (in shares)	150,300	150,300
April 20, 2010 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted (in shares)	530,000
Option Exercise (Strike) Price (in dollars per share) | $ / shares	$ 30
Closing Stock Price on Date of Grant (in dollars per share) | $ / shares	$ 27.13	$ 27.13
Options Outstanding (in shares)	210,350	210,350
Options Exercisable (in shares)	120,350	120,350
April 21, 2009 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted (in shares)	790,000
Option Exercise (Strike) Price (in dollars per share) | $ / shares	$ 27
Closing Stock Price on Date of Grant (in dollars per share) | $ / shares	$ 17.61	$ 17.61
Options Outstanding (in shares)	293,100	293,100
Options Exercisable (in shares)	200,600	200,600
April 15, 2008 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted (in shares)	550,000
Option Exercise (Strike) Price (in dollars per share) | $ / shares	$ 27
Closing Stock Price on Date of Grant (in dollars per share) | $ / shares	$ 24.35	$ 24.35
Options Outstanding (in shares)	147,750	147,750
Options Exercisable (in shares)	122,750	122,750
April 17, 2007 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted (in shares)	4,380,000
Option Exercise (Strike) Price (in dollars per share) | $ / shares	$ 22.50
Closing Stock Price on Date of Grant (in dollars per share) | $ / shares	$ 20.15	$ 20.15
Options Outstanding (in shares)	849,492	849,492
Options Exercisable (in shares)	849,492	849,492

Stockholders' Equity (Fair Valu

Stockholders' Equity (Fair Value Assumptions For Options Granted) (Details)	12 Months Ended
	Dec. 31, 2015$ / shares
April 21, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free Interest Rate	1.30%
Expected Life of Option in Years	5 years
Expected Dividend Yield	2.70%
Expected Stock Volatility	26.84%
Estimated Fair Value of Stock Option (in dollars per share)	$ 7.35
April 22, 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free Interest Rate	1.80%
Expected Life of Option in Years	5 years
Expected Dividend Yield	2.00%
Expected Stock Volatility	28.55%
Estimated Fair Value of Stock Option (in dollars per share)	$ 9.57
April 16, 2013 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free Interest Rate	0.70%
Expected Life of Option in Years	5 years
Expected Dividend Yield	1.60%
Expected Stock Volatility	37.42%
Estimated Fair Value of Stock Option (in dollars per share)	$ 12.66
April 17, 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free Interest Rate	0.90%
Expected Life of Option in Years	5 years
Expected Dividend Yield	1.40%
Expected Stock Volatility	39.25%
Estimated Fair Value of Stock Option (in dollars per share)	$ 13.69
April 19, 2011 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free Interest Rate	2.10%
Expected Life of Option in Years	5 years
Expected Dividend Yield	1.60%
Expected Stock Volatility	39.33%
Estimated Fair Value of Stock Option (in dollars per share)	$ 11.20
April 20, 2010 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free Interest Rate	2.60%
Expected Life of Option in Years	5 years
Expected Dividend Yield	1.50%
Expected Stock Volatility	39.10%
Estimated Fair Value of Stock Option (in dollars per share)	$ 8.14
April 21, 2009 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free Interest Rate	1.90%
Expected Life of Option in Years	5 years
Expected Dividend Yield	1.00%
Expected Stock Volatility	38.80%
Estimated Fair Value of Stock Option (in dollars per share)	$ 3.64
April 15, 2008 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free Interest Rate	2.70%
Expected Life of Option in Years	5 years
Expected Dividend Yield	1.00%
Expected Stock Volatility	30.93%
Estimated Fair Value of Stock Option (in dollars per share)	$ 7.75
April 17, 2007 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free Interest Rate	4.60%
Expected Life of Option in Years	4 years 10 months 6 days
Expected Dividend Yield	1.00%
Expected Stock Volatility	31.59%
Estimated Fair Value of Stock Option (in dollars per share)	$ 5.63

Stockholder's Equity (Summary O

Stockholder's Equity (Summary Of Stock Option Plan Activity) (Details) - $ / shares	12 Months Ended			104 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015
Options Outstanding
Granted (in shares)				9,948,220
Outstanding as of End of Period (in shares)	4,530,982			4,530,982
Exercisable (in shares)	1,792,242			1,792,242
Stock Option Plan [Member]
Options Outstanding
Outstanding as of Beginning of Period (in shares)	4,712,330	4,356,630
Granted (in shares)	893,220	955,000
Exercised (in shares)	(813,838)	(314,300)
Cancelled/Forfeited (in shares)	(260,730)	(285,000)
Outstanding as of End of Period (in shares)	4,530,982	4,712,330	4,356,630	4,530,982
Exercisable (in shares)	1,792,242	1,972,330		1,792,242
Weighted Average Exercise Price
Outstanding as of Beginning of Period (in dollars per share)	$ 38.52	$ 34.06
Granted (in dollars per share)	42	56
Exercised (in dollars per share)	23.47	24.49
Cancelled/Forfeited (in dollars per share)	45.84	44.39
Outstanding as of End of Period (in dollars per share)	41.49	38.52	$ 34.06	$ 41.49
Exercisable (in dollars per share)	$ 31	$ 27.89		$ 31
Weighted Average Remaining Life
Outstanding	4 years 10 months 20 days	4 years 7 months 2 days	4 years 7 months 27 days
Granted	8 years 4 months 27 days	8 years 4 months 27 days
Exercisable	2 years 1 month 24 days	2 years 6 months 3 days

Stockholders' Equity (Reconcili

Stockholders' Equity (Reconciliation Of Denominators Used In The Computation Of Basic And Diluted Earnings Per Share) (Details) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Stockholders' Equity Note [Abstract]
Basic weighted average shares outstanding (in shares)	291,453,107	296,490,378	296,754,160
Weighted shares assumed upon exercise of stock options (in shares)	592,335	822,866	929,428
Diluted weighted average shares outstanding (in shares)	292,045,442	297,313,244	297,683,588

Stockholders' Equity (Summary O

Stockholders' Equity (Summary Of Anti-Dilutive Options Excluded) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Stockholders' Equity Note [Abstract]
Options to purchase shares of common stock (in shares)	2,611,367	1,903,767	1,273,527
Weighted average exercise prices of options (in dollars per share)	$ 51.89	$ 54.67	$ 54

Retirement Savings Plan (Narrat

Retirement Savings Plan (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Contribution to employees' retirement accounts	$ 13,669	$ 11,460	$ 12,211

Income Taxes (Earnings Before I

Income Taxes (Earnings Before Income Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Domestic									$ 785,916	$ 757,896	$ 697,062
Foreign									40,104	29,538	16,406
Earnings before income taxes	$ 178,205	$ 219,204	$ 225,099	$ 203,512	$ 188,819	$ 212,988	$ 206,782	$ 178,845	$ 826,020	$ 787,434	$ 713,468

Income Taxes (Components Of Inc

Income Taxes (Components Of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Federal, Current	$ 256,748	$ 250,527	$ 220,588
State, Current	31,297	30,768	29,073
Foreign, Current	13,677	10,518	7,487
Current Income Tax Expense (Benefit), Total	301,722	291,813	257,148
Federal, Deferred	7,362	1,919	8,547
State, Deferred	227	256	527
Foreign, Deferred	348	(704)	(1,390)
Deferred Income Tax Expense (Benefit), Total	7,937	1,471	7,684
Federal, Total	264,110	252,446	229,135
State, Total	31,524	31,024	29,600
Foreign, Total	14,025	9,814	6,097
Total income tax expense	$ 309,659	$ 293,284	$ 264,832

Income Taxes (Difference In Inc

Income Taxes (Difference In Income Tax Expense And Expected Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Federal income tax expense at the 'expected' rate of 35%	$ 289,107	$ 275,602	$ 249,714
State income taxes, net of federal benefit	21,613	20,549	16,683
Other, net	(1,061)	(2,867)	(1,565)
Total income tax expense	$ 309,659	$ 293,284	$ 264,832
Expected rate of federal income tax expense	35.00%	35.00%	35.00%
Effective income tax rate	37.50%	37.20%	37.10%

Income Taxes (Summary Of Tempor

Income Taxes (Summary Of Temporary Differences That Give Rise To Deferred Income Tax Assets And Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Inventory costing and valuation methods	$ 4,556	$ 4,311
Allowance for doubtful accounts receivable	4,529	4,873
Insurance claims payable	10,930	10,404
Promotions payable	1,738	1,586
Stock-based compensation	8,270	7,837
Federal and state benefit of uncertain tax positions	1,911	1,327
Foreign net operating loss and credit carryforwards	5,155	5,768
Foreign valuation allowances	(3,406)	(3,007)
Other, net	1,541	592
Total deferred income tax assets	35,224	33,691
Property and equipment	(90,281)	(80,458)
Total deferred income tax liabilities	(90,281)	(80,458)
Net deferred income tax liabilities	$ (55,057)	$ (46,767)

Income Taxes (Reconciliation Of

Income Taxes (Reconciliation Of The Beginning And Ending Amount Of Total Gross Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year:	$ 3,772	$ 3,282
Increase related to prior year tax positions	704	185
Decrease related to prior year tax positions	(43)	(113)
Increase related to current year tax positions	984	924
Decrease related to statute of limitation lapses	0	(506)
Balance at end of year:	$ 5,417	$ 3,772

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Undistributed earnings of foreign subsidiaries	$ 140,000
New Accounting Pronouncement, Early Adoption [Line Items]
Decrease in current deferred tax assets	0	$ (21,765)
Increase in noncurrent deferred tax assets, netted within noncurrent liabilities	(55,057)	$ (68,532)
New Accounting Pronouncement, Early Adoption, Effect [Member]
New Accounting Pronouncement, Early Adoption [Line Items]
Decrease in current deferred tax assets	23,300
Increase in noncurrent deferred tax assets, netted within noncurrent liabilities	$ 23,300

Geographic Information - Additi

Geographic Information - Additional Information (Details)	12 Months Ended
	Dec. 31, 2015customer
Segments, Geographical Areas [Abstract]
Number of customers that represent 5% or more of the consolidated net sales	0

Geographic Information (Revenue

Geographic Information (Revenues By Geographic Areas) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Revenues	$ 922,793	$ 995,250	$ 997,827	$ 953,317	$ 926,254	$ 980,814	$ 949,938	$ 876,501	$ 3,869,187	$ 3,733,507	$ 3,326,106
United States [Member]
Segment Reporting Information [Line Items]
Revenues									3,441,141	3,308,226	2,951,673
Canada [Member]
Segment Reporting Information [Line Items]
Revenues									223,270	238,590	227,756
Other foreign countries [Member]
Segment Reporting Information [Line Items]
Revenues									$ 204,776	$ 186,691	$ 146,677

Geographic Information (Long-Li

Geographic Information (Long-Lived Assets By Geographic Areas) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Long-Lived Assets	$ 867,686	$ 775,837	$ 667,323
United States [Member]
Segment Reporting Information [Line Items]
Long-Lived Assets	821,063	725,189	632,783
Canada [Member]
Segment Reporting Information [Line Items]
Long-Lived Assets	32,290	37,580	22,572
Other foreign countries [Member]
Segment Reporting Information [Line Items]
Long-Lived Assets	$ 14,333	$ 13,068	$ 11,968

Operating Leases - Additional I

Operating Leases - Additional Information (Details) $ in Thousands	Dec. 31, 2015USD ($)
Property Subject to or Available for Operating Lease [Line Items]
Leasehold improvements, net book value	$ 2,858
Leased Vehicles [Member]
Property Subject to or Available for Operating Lease [Line Items]
Aggregate residual value guarantee of pick-up leases	$ 61,304

Operating Leases (Future Minimu

Operating Leases (Future Minimum Annual Rentals) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Property Subject to or Available for Operating Lease [Line Items]
2,016	$ 123,388
2,017	86,546
2,018	52,776
2,019	25,928
2,020	11,492
2021 and thereafter	1,579
Total	301,709
Leased Facilities and Equipment [Member]
Property Subject to or Available for Operating Lease [Line Items]
2,016	95,789
2,017	68,833
2,018	44,949
2,019	24,486
2,020	11,492
2021 and thereafter	1,579
Total	247,128
Leased Vehicles [Member]
Property Subject to or Available for Operating Lease [Line Items]
2,016	27,599
2,017	17,713
2,018	7,827
2,019	1,442
2,020	0
2021 and thereafter	0
Total	$ 54,581

Operating Leases (Rent Expense)

Operating Leases (Rent Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property Subject to or Available for Operating Lease [Line Items]
Rent expense	$ 144,139	$ 139,025	$ 132,390
Leased Facilities and Equipment [Member]
Property Subject to or Available for Operating Lease [Line Items]
Rent expense	105,961	103,294	99,483
Leased Vehicles [Member]
Property Subject to or Available for Operating Lease [Line Items]
Rent expense	$ 38,178	$ 35,731	$ 32,907

Debt Commitments and Continge56

Debt Commitments and Contingencies - Debt Obligations and Undrawn Letters of Credit Outstanding (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Total debt	$ 365,000	$ 90,000
Less: Current portion of debt	(62,050)	(90,000)
Long-term debt	302,950	0
Credit Facility [Member] | Unsecured Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total debt	350,000	90,000
Credit Facility [Member] | Letter of Credit Subfacility [Member]
Debt Instrument [Line Items]
Undrawn letters of credit under unsecured revolving credit facility - face amount	36,266	37,315
Note [Member]
Debt Instrument [Line Items]
Total debt	$ 15,000	$ 0

Debt Commitments and Continge57

Debt Commitments and Contingencies - Additional Information (Details) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Cash paid for acquisition		$ 23,493,000	$ 5,575,000	$ 0
Debt	$ 365,000,000	365,000,000	90,000,000
Apex Industrial Technologies, LLC [Member]
Debt Instrument [Line Items]
Consideration for assets and transition arrangement	27,000,000	$ 27,000,000
Cash paid for acquisition	$ 12,000,000
Credit Facility [Member]
Debt Instrument [Line Items]
Weighted per annum interest rate on outstanding line of credit	1.40%	1.40%
Credit Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Percentage fee paid for undrawn portion of credit facility		0.10%
Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Percentage fee paid for undrawn portion of credit facility		0.125%
Credit Facility [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest percentage over LIBOR rate		0.95%
Credit Facility [Member] | Unsecured Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 700,000,000	$ 700,000,000
Debt	350,000,000	350,000,000	90,000,000
Credit Facility [Member] | Letter of Credit Subfacility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	55,000,000	55,000,000
Note [Member]
Debt Instrument [Line Items]
Debt	$ 15,000,000	$ 15,000,000	$ 0
Interest rate	0.56%	0.56%

Debt Commitments and Continge58

Debt Commitments and Contingencies - Annual Maturities of Note (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Long-term Debt, Fiscal Year Maturity [Abstract]
Total debt	$ 365,000	$ 90,000
Note [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
2,016	5,000
2,017	10,000
Total debt	$ 15,000	$ 0

Sales by Product Line (Percenta

Sales by Product Line (Percentages Of Net Sales By Product Line) (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenue from External Customer [Line Items]
Total, percentage of net sales	100.00%	100.00%	100.00%
Fasteners [Member]
Revenue from External Customer [Line Items]
Introduced	1,967
Total, percentage of net sales	38.30%	40.20%	42.10%
Tools [Member]
Revenue from External Customer [Line Items]
Introduced	1,993
Total, percentage of net sales	9.50%	9.30%	9.20%
Cutting tools [Member]
Revenue from External Customer [Line Items]
Introduced	1,996
Total, percentage of net sales	5.60%	5.50%	5.40%
Hydraulics & pneumatics [Member]
Revenue from External Customer [Line Items]
Introduced	1,996
Total, percentage of net sales	7.20%	7.20%	7.30%
Material handling [Member]
Revenue from External Customer [Line Items]
Introduced	1,996
Total, percentage of net sales	6.50%	6.10%	5.70%
Janitorial supplies [Member]
Revenue from External Customer [Line Items]
Introduced	1,996
Total, percentage of net sales	7.50%	7.30%	7.00%
Electrical supplies [Member]
Revenue from External Customer [Line Items]
Introduced	1,997
Total, percentage of net sales	4.70%	4.70%	4.60%
Welding supplies [Member]
Revenue from External Customer [Line Items]
Introduced	1,997
Total, percentage of net sales	4.70%	4.70%	4.50%
Safety supplies [Member]
Revenue from External Customer [Line Items]
Introduced	1,999
Total, percentage of net sales	13.90%	12.80%	11.20%
Metals [Member]
Revenue from External Customer [Line Items]
Introduced	2,001
Total, percentage of net sales	0.50%	0.40%	0.50%
Direct ship [Member]
Revenue from External Customer [Line Items]
Introduced	2,004
Total, percentage of net sales	0.40%	1.00%	1.50%
Office supplies [Member]
Revenue from External Customer [Line Items]
Introduced	2,010
Total, percentage of net sales	0.10%	0.10%	0.10%
Other product line [Member]
Revenue from External Customer [Line Items]
Total, percentage of net sales	1.10%	0.70%	0.90%

Selected Quarterly Financial 60

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Selected Quarterly Financial Information [Abstract]
Net Sales	$ 922,793	$ 995,250	$ 997,827	$ 953,317	$ 926,254	$ 980,814	$ 949,938	$ 876,501	$ 3,869,187	$ 3,733,507	$ 3,326,106
Gross Profit	460,572	502,225	502,087	484,050	467,564	498,693	482,667	448,478	1,948,934	1,897,402	1,719,445
Pre-tax Earnings	178,205	219,204	225,099	203,512	188,819	212,988	206,782	178,845	826,020	787,434	713,468
Net Earnings	$ 111,904	$ 136,494	$ 140,357	$ 127,606	$ 118,391	$ 133,314	$ 130,514	$ 111,931	$ 516,361	$ 494,150	$ 448,636
Basic Net Earnings per Share (in dollars per share)	$ 0.39	$ 0.47	$ 0.48	$ 0.43	$ 0.40	$ 0.45	$ 0.44	$ 0.38	$ 1.77	$ 1.67	$ 1.51
Diluted Net Earnings per Share (in dollars per share)	$ 0.39	$ 0.47	$ 0.48	$ 0.43	$ 0.40	$ 0.45	$ 0.44	$ 0.38	$ 1.77	$ 1.66	$ 1.51

Schedule II-Valuation and Qua61

Schedule II-Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Allowance For Doubtful Accounts [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 12,619	$ 9,248	$ 6,728
“Additions” Charged to Costs and Expenses	8,769	11,480	9,421
“Other” Additions (Deductions)	0	0	0
“Less” Deductions	9,659	8,109	6,901
Balance at End of Year	11,729	12,619	9,248
Insurance Reserves [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	31,137	30,880	25,188
“Additions” Charged to Costs and Expenses	54,341	52,858	52,658
“Other” Additions (Deductions)	0	0	0
“Less” Deductions	53,657	52,601	46,966
Balance at End of Year	$ 31,821	$ 31,137	$ 30,880