Fastenal (FAST) 10-K 6 Feb 25 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2024	Jan. 21, 2025	Jun. 28, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	0-16125
Entity Registrant Name	FASTENAL CO
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-0948415
Entity Address, Address Line One	2001 Theurer Boulevard
Entity Address, City or Town	Winona
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55987-1500
City Area Code	507
Local Phone Number	454-5374
Title of 12(b) Security	Common stock, par value $.01 per share
Trading Symbol	FAST
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 35,916,816,764
Entity Common Stock, Shares Outstanding		573,419,704
Entity Central Index Key	0000815556
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	Minneapolis, MN
Auditor Firm ID	185

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 255.8	$ 221.3
Trade accounts receivable, net of allowance for credit losses of $5.2 and $6.4, respectively	1,108.6	1,087.6
Inventories	1,645	1,522.7
Prepaid income taxes	18.8	17.5
Other current assets	183.7	171.8
Total current assets	3,211.9	3,020.9
Property and equipment, net	1,056.6	1,011.1
Operating lease right-of-use assets	279.2	270.2
Other assets	150.3	160.7
Total assets	4,698	4,462.9
Current liabilities:
Current portion of debt	75	60
Accounts payable	287.7	264.1
Accrued expenses	225.6	241
Current portion of operating lease liabilities	98.8	96.2
Total current liabilities	687.1	661.3
Long-term debt	125	200
Operating lease liabilities	186.6	178.8
Deferred income taxes	68.9	73
Other long-term liabilities	14.1	1
Commitments and contingencies (Notes 5, 8, 9, and 11)
Stockholders' equity:
Preferred stock: $0.01 par value, 5,000,000 shares authorized, no shares issued or outstanding	0	0
Common stock: $0.01 par value, 800,000,000 shares authorized, 573,320,452 and 571,982,367 shares issued and outstanding, respectively	5.7	5.7
Additional paid-in capital	88.6	41
Retained earnings	3,613.5	3,356.9
Accumulated other comprehensive loss	(91.5)	(54.8)
Total stockholders' equity	3,616.3	3,348.8
Total liabilities and stockholders' equity	$ 4,698	$ 4,462.9

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Trade accounts receivable, allowance for credit losses	$ 5.2	$ 6.4
Preferred stock
Par value (in dollars per share)	$ 0.01	$ 0.01
Authorized (in shares)	5,000,000	5,000,000
Issued (in shares)	0	0
Outstanding (in shares)	0	0
Common stock
Par value (in dollars per share)	$ 0.01	$ 0.01
Authorized (in shares)	800,000,000	800,000,000
Issued (in shares)	573,320,452	571,982,367
Outstanding (in shares)	573,320,452	571,982,367

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Net sales	$ 7,546	$ 7,346.7	$ 6,980.6
Cost of sales	4,144.1	3,992.2	3,764.8
Gross profit	3,401.9	3,354.5	3,215.8
Selling, general, and administrative expenses	1,891.9	1,825.8	1,762.2
Operating income	1,510	1,528.7	1,453.6
Interest income	5.4	4.1	0.7
Interest expense	(7.3)	(10.8)	(14.3)
Income before income taxes	1,508.1	1,522	1,440
Income tax expense	357.5	367	353.1
Net income	$ 1,150.6	$ 1,155	$ 1,086.9
Basic net income per share (in dollars per share)	$ 2.01	$ 2.02	$ 1.89
Diluted net income per share (in dollars per share)	$ 2	$ 2.02	$ 1.89
Basic weighted average shares outstanding (in shares)	572,708,065	571,271,846	573,777,790
Diluted weighted average shares outstanding (in shares)	574,282,211	573,008,608	575,623,114

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 1,150.6	$ 1,155	$ 1,086.9
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments (net of tax of $0.0 in 2024, 2023, and 2022)	(36.7)	10	(34.1)
Comprehensive income	$ 1,113.9	$ 1,165	$ 1,052.8

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax	$ 0	$ 0	$ 0

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions	Total	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive (loss) income
Balance at beginning of year at Dec. 31, 2021		$ 5.8	$ 96.2	$ 2,970.9	$ (30.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock options exercised		(0.1)	9.3
Purchases of common stock			(109.1)	(128.7)
Stock-based compensation			7.2
Net income	$ 1,086.9			1,086.9
Cash dividends paid				(711.3)
Translation adjustment upon closure of foreign subsidiary				0.9
Other comprehensive (loss) income					(34.1)
Balance at end of year at Dec. 31, 2022	$ 3,163.2	5.7	3.6	3,218.7	(64.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends paid per share of common stock (in dollars per share)	$ 1.24
Stock options exercised		0	30.1
Purchases of common stock			0	0
Stock-based compensation			7.3
Net income	$ 1,155			1,155
Cash dividends paid				(1,016.8)
Translation adjustment upon closure of foreign subsidiary				0
Other comprehensive (loss) income					10
Balance at end of year at Dec. 31, 2023	$ 3,348.8	5.7	41	3,356.9	(54.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends paid per share of common stock (in dollars per share)	$ 1.78
Stock options exercised		0	39.6
Purchases of common stock			0	0
Stock-based compensation			8
Net income	$ 1,150.6			1,150.6
Cash dividends paid				(893.3)
Translation adjustment upon closure of foreign subsidiary				(0.7)
Other comprehensive (loss) income					(36.7)
Balance at end of year at Dec. 31, 2024	$ 3,616.3	$ 5.7	$ 88.6	$ 3,613.5	$ (91.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends paid per share of common stock (in dollars per share)	$ 1.56

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 1,150.6	$ 1,155	$ 1,086.9
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property and equipment	164.7	166.6	165.9
(Gain) loss on sale of property and equipment	(3.8)	(4.3)	1.1
Bad debt expense (recoveries)	1.3	2.2	(1.8)
Deferred income taxes	(4.1)	(10.7)	(4.9)
Stock-based compensation	8	7.3	7.2
Amortization of intangible assets	10.7	10.7	10.7
Changes in operating assets and liabilities:
Trade accounts receivable	(31.9)	(72.3)	(119.8)
Inventories	(133.9)	189.1	(198)
Other current assets	(11.9)	(6.4)	22.7
Accounts payable	27.5	8.4	21.9
Accrued expenses	(16.5)	(0.6)	(57.2)
Income taxes	(1.3)	(9.4)	0.4
Other	13.9	(2.9)	5.9
Net cash provided by operating activities	1,173.3	1,432.7	941
Cash flows from investing activities:
Purchases of property and equipment	(226.5)	(172.8)	(173.8)
Proceeds from sale of property and equipment	12.4	12.2	11.4
Other	(0.4)	(0.6)	(0.6)
Net cash used in investing activities	(214.5)	(161.2)	(163)
Cash flows from financing activities:
Proceeds from debt obligations	775	880	1,795
Payments against debt obligations	(835)	(1,175)	(1,630)
Proceeds from exercise of stock options	39.6	30.1	9.2
Purchases of common stock	0	0	(237.8)
Cash dividends paid	(893.3)	(1,016.8)	(711.3)
Net cash used in financing activities	(913.7)	(1,281.7)	(774.9)
Effect of exchange rate changes on cash and cash equivalents	(10.6)	1.4	(9.2)
Net increase (decrease) in cash and cash equivalents	34.5	(8.8)	(6.1)
Cash and cash equivalents at beginning of year	221.3	230.1	236.2
Cash and cash equivalents at end of year	255.8	221.3	230.1
Supplemental information:
Cash paid for interest	7.8	12.2	13.3
Net cash paid for income taxes	$ 356.5	$ 383	$ 354.1

Business Overview and Summary o

Business Overview and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
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. We distribute these supplies through a network of branches and Onsite locations. Collectively, we refer to our branches and Onsite locations as in-market locations. We have more than 3,600 in-market locations located 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 Net sales include products and shipping and handling charges, net of estimates for product returns and any related sales incentives. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring products. All revenue is recognized when or as we satisfy our performance obligations under the contract. We recognize revenue by transferring control of the promised products to the customer, with the majority of revenue recognized at the point in time the customer obtains control of the products. We recognize revenue for shipping and handling charges at the time the products are delivered to or picked up by the customer. We estimate product returns based on historical return rates. Using probability assessments, which are based on known inputs at year-end, we estimate sales incentives expected to be paid over the term of the contract. The majority of our contracts have a single performance obligation and are short-term in nature. Sales taxes and value added taxes in foreign jurisdictions that are collected from customers and remitted to governmental authorities are accounted for on a net basis and therefore are excluded from net sales. Accounts Receivable Credit is extended based upon an evaluation of the customer's financial condition. Accounts receivable are stated at their estimated net realizable value. The allowance for credit losses is based on an income statement approach which adjusts the ending balance sheet to take into consideration expected losses over the contractual lives of the receivables, considering factors such as historical data as a basis for future expected losses. Foreign Currency Translation and Transactions The functional currency of our foreign operations is typically the applicable local currency. The functional currency is translated into U.S. 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 sales and expense accounts using a weighted average exchange rate during the applicable period. The translation adjustments are deferred as a separate component of stockholders' equity captioned accumulated other comprehensive income (loss). Gains or losses resulting from transactions denominated in foreign currencies are included in cost of sales or SG&A expenses. Cash and Cash Equivalents We consider all highly liquid investments purchased with original maturities of three months or less to be cash equivalents. Inventories Inventories, which consist of finished goods merchandise that is held for resale, are stated at the lower of cost (first in, first out method) or net realizable value. We record valuation adjustments for excess, slow-moving, and obsolete inventory that are equal to the difference between the cost and estimated net realizable value for that inventory. These estimates are based on a review and comparison of the current inventory levels to projected and historical sales of inventory. 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. Leases We determine if an arrangement contains a lease at inception. Operating leases are included in our operating lease right-of-use (ROU) assets, the current portion of operating lease liabilities, and the operating lease liabilities in our Consolidated Balance Sheets. The ROU assets represent our right to control the use of an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. The operating lease ROU assets also include any prepaid lease payments made and exclude lease incentives. Lease expense is recognized on a straight-line basis over the lease term. Many of our leases include both lease (e.g., fixed payments including rent, taxes, and insurance costs) and non-lease components (e.g., common-area or other maintenance costs) which are accounted for as a single lease component as we have elected the practical expedient to group lease and non-lease components for all leases. Our pick-up truck leases typically have a non-cancelable lease term of less than one year and therefore, we have elected the practical expedient to exclude these short-term leases from our ROU assets and lease liabilities. Most leases include one or more options to renew. The exercise of lease renewal options is typically at our sole discretion; therefore, the majority of renewals to extend the lease terms are not included in our ROU assets and lease liabilities as they are not reasonably certain of exercise. We regularly evaluate the renewal options and when they are reasonably certain of exercise, we include the renewal period in our lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. We have a centrally managed treasury function; therefore, based on the applicable lease terms and the current economic environment, we apply a portfolio approach for determining the incremental borrowing rate. Long-Lived Assets Long-lived assets consist of net property and equipment, operating lease right-of-use assets, prepaid deposits, goodwill, and definite-lived intangible assets, and are reviewed for impairment whenever an event or change in circumstance indicates that the carrying amount of the 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 necessary. There were no impairments recorded during any of the three years reported in these consolidated financial statements. Goodwill represents the excess of the purchase price over the fair value of net assets acquired. Goodwill is reviewed for impairment annually. The identifiable 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. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, sales and expenses, and the disclosure of contingent liabilities. Actual results could differ from those estimates. Insurance Reserves We are self-insured for certain losses relating to workers' compensation, automobile, health, and general liability costs. Specific stop-loss coverage is provided for catastrophic claims in order to limit exposure to significant claims. Self-insurance liabilities are based on our estimate of reported claims and claims incurred but not yet reported. We analyze historical trends, claims experience, and loss development patterns to ensure the appropriate loss development factors are applied to the incurred costs associated with the claims made. 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 immaterial. Stock-Based Compensation We estimate the fair value of stock options as of the date of the grant using a Black-Scholes valuation model. Stock-based compensation expense equal to the grant date fair value is recognized on a straight-line basis over the vesting period. Our stock-based compensation expense is recorded in SG&A expenses. 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. Net Income Per Share Basic net income per share is calculated using net income available to common stockholders divided by the weighted average number of shares of common stock outstanding during the year. Diluted net income per share is similar to basic net income 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). Recently Adopted Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which enhances reporting requirements under Topic 280. The enhanced disclosure requirements include: title and position of the Chief Operating Decision Maker (CODM), significant segment expenses provided to the CODM, extending certain annual disclosures to interim periods, clarifying single reportable segment entities must apply Accounting Standards Codification 280 in its entirety, and permitting more than one measure of segment profit or loss to be reported under certain circumstances. This change is effective for fiscal years beginning after December 15, 2023 and interim periods beginning after December 15, 2024. We adopted ASU 2023-07 for the year ended December 31, 2024 and have applied the guidance retrospectively for all periods presented within the notes to the consolidated financial statements in this Form 10-K. Recently Issued Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740) , which establishes new income tax disclosure requirements in addition to modifying and eliminating certain existing requirements. The new guidance requires consistent categorization and greater disaggregation of information in the rate reconciliation, as well as further disaggregation of income taxes paid. This change is effective for annual periods beginning after December 15, 2024. This change will apply on a prospective basis to annual financial statements for periods beginning after the effective date. However, retrospective application in all prior periods presented is permitted. We are currently evaluating the impact that the adoption of ASU 2023-09 will have on our consolidated financial statements and disclosures and we anticipate adoption in our 2025 annual report on Form 10-K. In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses (DISE) , which specifies additional disclosure requirements. The new guidance requires additional disclosures, including the composition of certain income expense line items (such as purchases of inventory, employee compensation, and 'other expenses') and a separate disclosure for selling expenses. This change is effective for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027, however, early adoption is permitted. We are currently evaluating the impact that the adoption of ASU 2024-03 will have on our consolidated financial statements and disclosures and we anticipate adoption in our 2027 annual report on Form 10-K.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Note 2. Revenue Disaggregation of Revenue The accounting policies of the operations in the various geographic areas are the same as those described in the summary of significant accounting policies. Revenues are attributed to countries based on the selling location from which the sale occurred. During 2024, 2023, and 2022, no single customer represented 5% or more of our consolidated net sales. Our revenues related to the following geographic areas were as follows for the periods ended December 31: Twelve-month Period 2024 2023 2022 United States $ 6,273.1 6,139.8 5,867.1 % of revenues 83.1 % 83.6 % 84.0 % Canada and Mexico 1,035.6 981.9 884.4 % of revenues 13.7 % 13.4 % 12.7 % All other foreign countries 237.3 225.0 229.1 % of revenues 3.2 % 3.0 % 3.3 % Total revenues $ 7,546.0 7,346.7 6,980.6 The percentages of our sales by end market were as follows for the periods ended December 31: Twelve-month Period 2024 2023 2022 Manufacturing 75.0 % 74.3 % 72.2 % Non-residential construction 8.5 % 9.1 % 10.3 % Other 16.5 % 16.6 % 17.5 % 100.0 % 100.0 % 100.0 % The percentages of our sales by product line were as follows for the periods ended December 31: Twelve-month Period Type Introduced 2024 2023 2022 Fasteners (1) 1967 30.7 % 32.4 % 34.0 % Tools 1993 8.4 % 8.5 % 8.4 % Cutting tools 1996 5.3 % 5.3 % 5.0 % Hydraulics & pneumatics 1996 6.7 % 6.7 % 6.5 % Material handling 1996 5.6 % 5.6 % 5.7 % Janitorial supplies 1996 8.8 % 8.4 % 8.0 % Electrical supplies 1997 4.7 % 4.6 % 4.4 % Welding supplies 1997 4.2 % 4.1 % 3.9 % Safety supplies 1999 22.2 % 21.2 % 20.8 % Other 3.4 % 3.2 % 3.3 % 100.0 % 100.0 % 100.0 % (1) The fastener product line represents fasteners and miscellaneous supplies.

Long-Lived Assets

Long-Lived Assets	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Long-Lived Assets	Note 3. Long-Lived Assets 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 net property and equipment, operating lease right-of-use assets, prepaid deposits, goodwill, and definite-lived intangible assets. Property and equipment at year end consisted of the following: Depreciable Life 2024 2023 Land — $ 72.6 67.2 Buildings and improvements 15 to 40 563.6 525.1 Automated distribution and warehouse equipment 5 to 30 293.5 271.7 Shelving, industrial vending, and equipment 3 to 10 1,436.3 1,366.5 Transportation equipment 3 to 5 103.3 98.3 Construction in progress — 117.2 107.8 2,586.5 2,436.6 Less accumulated depreciation (1,529.9) (1,425.5) Property and equipment, net $ 1,056.6 1,011.1 Our long-lived assets related to the following geographic areas at year end: 2024 2023 United States $ 1,343.2 1,314.2 Canada and Mexico 101.3 87.2 All other foreign countries 41.6 40.6 Total long-lived assets $ 1,486.1 1,442.0

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Accrued Expenses	Note 4. Accrued Expenses Accrued expenses at year end consisted of the following: 2024 2023 Employee payroll and related taxes $ 17.9 15.2 Employee bonuses and commissions 25.5 32.3 Profit sharing contribution 20.8 23.1 Insurance reserves 26.2 40.1 Indirect taxes 32.7 36.1 Customer promotions and marketing 64.2 63.3 Occupancy (1) 8.5 3.9 Transportation (1) 5.7 5.4 Other (1) 24.1 21.6 Accrued expenses $ 225.6 241.0 (1) In 2024, we disaggregated certain accrual category designations and have conformed the prior period amounts to the current year presentation.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2024
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Note 5. Stockholders' Equity Dividends On January 16, 2025, our board of directors declared a quarterly dividend of $0.43 per share of common stock to be paid in cash on February 28, 2025 to shareholders of record at the close of business on January 31, 2025. In 2024, we paid aggregate annual cash dividends per share of $1.56. We paid aggregate annual cash dividends per share of $1.78 and $1.24 in 2023 and 2022, respectively. In 2023, this included a special dividend of $0.38 per share paid in the fourth quarter. Stock Options Effective January 2, 2025, the compensation committee of our board of directors granted to our employees options to purchase a total of 639,304 shares of our common stock at an exercise price of $72.00 per share. On the same date, certain of our non-employee directors received options to acquire a total of 44,014 shares of our common stock at an exercise price of $72.00 per share. The closing stock price on the effective date of the grants was $71.11 per share. The following tables summarize the details of options granted under our stock option plans that were still outstanding as of December 31, 2024, and the assumptions used to value those grants. All such grants were effective at the close of business on the date of grant. Options Option Exercise Closing Stock December 31, 2024 Date of Grant Options Options January 2, 2024 814,912 $ 64.00 $ 63.550 766,463 47,567 January 3, 2023 1,071,943 $ 48.00 $ 47.400 883,852 180,820 January 3, 2022 713,438 $ 62.00 $ 61.980 529,511 197,013 January 4, 2021 741,510 $ 48.00 $ 47.650 477,333 223,592 January 2, 2020 902,263 $ 38.00 $ 37.230 514,889 313,822 January 2, 2019 1,316,924 $ 26.00 $ 25.705 532,075 404,203 January 2, 2018 1,087,936 $ 27.50 $ 27.270 318,598 248,436 January 3, 2017 1,529,578 $ 23.50 $ 23.475 158,168 117,840 April 19, 2016 1,690,880 $ 23.00 $ 22.870 47,038 47,038 Total 9,869,384 4,227,927 1,780,331 Date of Grant Risk-free Expected Life Expected Expected Estimated Fair January 2, 2024 3.8% 5.00 2.2% 28.44 % $ 15.87 January 3, 2023 4.0% 5.00 2.6% 29.58 % $ 11.62 January 3, 2022 1.3% 5.00 1.7% 28.52 % $ 13.68 January 4, 2021 0.4% 5.00 2.0% 29.17 % $ 9.57 January 2, 2020 1.7% 5.00 2.4% 25.70 % $ 6.81 January 2, 2019 2.5% 5.00 2.9% 23.96 % $ 4.40 January 2, 2018 2.2% 5.00 2.3% 23.45 % $ 5.02 January 3, 2017 1.9% 5.00 2.6% 24.49 % $ 4.20 April 19, 2016 1.3% 5.00 2.6% 26.34 % $ 4.09 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 approximat ely 10 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, net of forfeitures, 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 price over the most recent historical period equivalent to the expected life of the option. A summary of activities under our stock option plans consisted of the following: Options Exercise Price (1) Remaining Life (2) Outstanding as of January 1, 2024 4,974,078 $ 38.70 5.99 Granted 814,912 $ 64.00 9.00 Exercised (1,338,085) $ 29.72 Cancelled/forfeited (222,978) $ 48.12 Outstanding as of December 31, 2024 4,227,927 $ 45.93 6.28 Exercisable as of December 31, 2024 1,780,331 $ 38.08 4.94 Options Exercise (1) Remaining Life (2) Outstanding as of January 1, 2023 5,374,736 $ 34.37 5.66 Granted 1,071,943 $ 48.00 9.00 Exercised (1,170,693) $ 25.69 Cancelled/forfeited (301,908) $ 45.00 Outstanding as of December 31, 2023 4,974,078 $ 38.70 5.99 Exercisable as of December 31, 2023 2,197,022 $ 30.88 4.54 (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, 2024, 2023, and 2022 was $57.6, $38.1, and $10.2, 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, 2024, there was $19.0 of total unrecognized stock-based compensation expense related to outstanding unvested stock options granted under the employee stock option plan. This expense is expected to be recognized over a weighted average period of 4.09 years. Any future change in estimated forfeitures will impact this amount. The total grant date fair value of stock options vested under our employee stock option plan during 2024, 2023, and 2022 was $7.6, $5.3, and $5.2, respectively. Total stock-based compensation expense related to our employee stock option plan was $8.0, $7.3, and $7.2 for 2024, 2023, and 2022, respectively. Shares Outstanding Shares of common stock outstanding were as follows: 2024 2023 2022 Balance at beginning of year 571,982,367 570,811,674 575,464,682 Stock options exercised 1,338,085 1,170,693 346,992 Purchases of common stock — — (5,000,000) Balance at end of year 573,320,452 571,982,367 570,811,674 Net Income Per Share The following tables present a reconciliation of the denominators used in the computation of basic and diluted net income per share and a summary of the options to purchase shares of common stock which were excluded from the diluted net income per share calculation because they were anti-dilutive: Reconciliation 2024 2023 2022 Basic weighted average shares outstanding 572,708,065 571,271,846 573,777,790 Weighted shares assumed upon exercise of stock options 1,574,146 1,736,762 1,845,324 Diluted weighted average shares outstanding 574,282,211 573,008,608 575,623,114 Summary of Anti-dilutive Options Excluded 2024 2023 2022 Options to purchase shares of common stock 913,296 1,568,460 1,335,898 Weighted average exercise prices of options $ 63.57 53.80 55.25 Any dilutive impact summarized above related to periods when the average market price of our stock exceeded the exercise price of the potentially dilutive stock options then outstanding.

Retirement Savings Plan

Retirement Savings Plan	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Retirement Savings Plan	Note 6. Retirement Savings Plan

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 7. Income Taxes Income before income taxes were derived from the following sources: 2024 2023 2022 Domestic $ 1,390.6 1,392.7 1,335.7 Foreign 117.5 129.3 104.3 Income before income taxes $ 1,508.1 1,522.0 1,440.0 Components of income tax expense (benefit) were as follows: 2024 2023 2022 Current Deferred Total Current Deferred Total Current Deferred Total Federal $ 265.6 (3.0) 262.6 273.3 (9.2) 264.1 267.6 (5.0) 262.6 State 56.1 (0.1) 56.0 59.6 (1.3) 58.3 58.0 (1.1) 56.9 Foreign 39.6 (0.7) 38.9 44.9 (0.3) 44.6 35.0 (1.4) 33.6 Income tax expense $ 361.3 (3.8) 357.5 377.8 (10.8) 367.0 360.6 (7.5) 353.1 Income tax expense in the accompanying consolidated financial statements differed from the expected expense as follows: 2024 2023 2022 Amount Percent Amount Percent Amount Percent United States federal statutory income tax $ 316.7 21.0 % $ 319.6 21.0 % $ 302.4 21.0 % State income taxes, net of federal benefit 43.3 2.9 % 45.1 3.0 % 45.6 3.2 % Other, net (2.5) -0.2 % 2.3 0.1 % 5.1 0.3 % Effective income tax rate $ 357.5 23.7 % $ 367.0 24.1 % $ 353.1 24.5 % The tax effects of temporary differences that give rise to deferred income tax assets and liabilities at year end consisted of the following: 2024 2023 Deferred income tax assets: Inventory costing and valuation methods $ 5.9 5.6 Insurance reserves 5.5 8.3 Foreign net operating loss and credit carryforwards 2.4 3.0 Stock-based compensation 3.7 3.8 Operating lease liabilities 72.2 69.5 Section 174 capitalization 11.1 7.4 Other, deferred tax assets 8.3 9.4 Total deferred income tax assets 109.1 107.0 Less: Valuation allowances (1.8) (2.2) Total net deferred income tax assets 107.3 104.8 Deferred income tax liabilities: Property and equipment (90.9) (95.4) Operating lease ROU assets (70.6) (68.3) Prepaid expenses (4.6) (3.5) Other, deferred tax liabilities (0.2) (0.4) Total deferred income tax liabilities (166.3) (167.6) Net deferred income tax liabilities $ (59.0) (62.8) A reconciliation of the beginning and ending amount of total gross unrecognized tax benefits is as follows: 2024 2023 Balance at beginning of year: $ 10.2 10.1 Increase related to prior year tax positions 1.1 5.6 Increase related to current year tax positions 0.4 0.6 Decrease related to statute of limitation lapses (1.8) (6.1) Balance at end of year: $ 9.9 10.2 Included in the liability for gross unrecognized tax benefits i s $4.2 as of December 31, 2024 and $3.8 as of December 31, 2023 for interest and penalties, both of which we classify as a component of income tax expense. The amount of unrecognized tax benefits that would favorably impact the eff ective tax rate, if recognized, is $9.1 as of December 31, 2024 and $9.2 as of December 31, 2023. We believe it is reasonably possible that a decrease of up to $1.9 in unrecognized tax benefits may be recognized by the end of 2025 as a result of the lapse of the statute of limitations. The 2024 and 2023 liability is included in deferred income taxes in the Consolidated Balance Sheets. We file income tax returns in the U.S. federal jurisdiction, all states, and various local and foreign jurisdictions. We are no longer subject to income tax examinations by taxing authorities for taxable years before 2021 in the case of U.S. federal examinations, and with limited exception, before 2019 in the case of foreign, state, and local examinations. In general, it is our practice and intention to permanently reinvest the income of our foreign subsidiaries and repatriate income only when the tax impact is zero or very minimal. Accordingly, no deferred taxes have been provided for withholding taxes or other taxes that would result upon repatriation of our approximately $539.6 of undistributed income from foreign subsidiaries to the U.S. as that income continues to be permanently reinvested.

Operating Leases

Operating Leases	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Operating Leases	Note 8. Operating Leases We lease space under non-cancelable operating leases for several distribution centers, several manufacturing locations, and certain branch locations. These leases do not have significant rent escalation holidays, concessions, leasehold improvement incentives, or other build-out clauses. Further, the leases do not contain contingent rent provisions. We also lease certain semi-tractors, pick-up trucks, and computer equipment under operating leases. 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 valu e of the leased vehicles is less than the guaranteed residual value. The aggregate residual value guarantee related to these leases was approximately $127.3. We believe the likelihood of funding the guarantee obligation under any provision of the operating lease agreements is remote. The cost components of our operating leases were as follows for the periods ended December 31: 2024 2023 2022 Leased Leased Total Leased Leased Total Leased Leased Total Operating lease cost $ 101.1 22.0 123.1 99.4 18.2 117.6 96.8 14.7 111.5 Variable lease cost 14.0 1.4 15.4 10.5 1.6 12.1 9.7 1.5 11.2 Short-term lease cost — 32.6 32.6 — 23.7 23.7 — 26.6 26.6 Total $ 115.1 56.0 171.1 109.9 43.5 153.4 106.5 42.8 149.3 Variable lease costs are excluded from ROU assets and lease liabilities and consist primarily of taxes, insurance, and common area or other maintenance costs for our leased facilities and equipment which are paid based on actual costs incurred by the lessor as well as variable mileage costs related to our leased vehicles. Maturities of our lease liabilities for all operating leases were as follows as of December 31, 2024: Leased Leased Total 2025 $ 89.0 15.0 104.0 2026 66.7 11.7 78.4 2027 45.8 7.9 53.7 2028 29.7 5.4 35.1 2029 16.1 2.7 18.8 2030 and thereafter 19.0 0.9 19.9 Total lease payments $ 266.3 43.6 309.9 Less: Imputed interest (21.1) (3.4) (24.5) Present value of lease liabilities $ 245.2 40.2 285.4 The weighted average remaining lease terms and discount rates for all of our operating leases were as follows for the periods ended December 31: Remaining lease term and discount rate: 2024 2023 Weighted average remaining lease term (years) Leased facilities and equipment 3.98 3.76 Leased vehicles 3.62 3.77 Weighted average discount rate Lease facilities and equipment 3.92% 3.07% Leased vehicles 4.46% 4.03% Supplemental cash flow information related to our operating leases was as follows for the periods ended December 31: 2024 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflow from operating leases $ 119.0 115.7 110.9 Leased assets obtained in exchange for new operating lease liabilities 95.0 116.2 89.4

Debt Commitments

Debt Commitments	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt Commitments	Note 9. Debt Commitments Credit Facility, Notes Payable, and Commitments Debt obligations and letters of credit outstanding at year end consisted of the following: Average Interest Rate at December 31, 2024 Debt Outstanding Maturity 2024 2023 Unsecured revolving credit facility 5.36 % September 28, 2027 $ — — Senior unsecured promissory notes payable, Series C 3.22 % March 1, 2024 — 60.0 Senior unsecured promissory notes payable, Series D 2.66 % May 15, 2025 75.0 75.0 Senior unsecured promissory notes payable, Series E 2.72 % May 15, 2027 50.0 50.0 Senior unsecured promissory notes payable, Series G 2.13 % June 24, 2026 25.0 25.0 Senior unsecured promissory notes payable, Series H 2.50 % June 24, 2030 50.0 50.0 Total 200.0 260.0 Less: Current portion of debt (75.0) (60.0) Long-term debt $ 125.0 200.0 Outstanding letters of credit under unsecured revolving credit facility - contingent obligation $ 31.2 32.7 Unsecured Revolving Credit Facility We have an $835.0 committed unsecured revolving Credit Facility with an uncommitted accordion option to increase the aggregate revolving commitment by an additional $365.0 for a total amount of $1,200.0. The Credit Facility includes a committed letter of credit subfacility of $55.0. Any borrowings outstanding under the Credit Facility for which we have the ability and intent to pay using cash within the next 12 months will be classified 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 Daily Simple SOFR plus a 0.10% spread adjustment plus 0.95%. 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. Senior Unsecured Promissory Notes Payable We have issued senior unsecured promissory notes under our master note agreement (the Master Note Agreement) in the aggregate principal amount of $200.0 as of December 31, 2024. Our aggregate borrowing capacity under the Master Note Agreement is $900.0; however, none of the institutional investors party to that agreement are committed to purchase notes thereunder. There is no amortization of these notes prior to their maturity date and interest is payable quarterly. The notes currently issued under our Master Note Agreement, including the maturity date and fixed interest rate per annum of each series of note, are contained in the table above. The Master Note Agreement contains certain financial and other covenants and we are currently in compliance with these covenants. Principal payments required on our outstanding indebtedness, based on the maturity dates defined within our long-term debt arrangements, for the succeeding five years, are displayed in the table below, as of December 31, 2024: Principal Payments 2025 $ 75.0 2026 25.0 2027 50.0 2028 — 2029 — 2030 and thereafter 50.0 Total $ 200.0

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Reporting	Note 10. Segment Reporting Each of our geographic regions (U.S., Canada, Mexico, Central & South America, Europe, Africa, Asia, and SE Asia) is engaged in business activities for which it may earn sales and incur expenses. Discrete financial information is available at the geographic region level through our internal Return on Asset (ROA) reporting. The ROA reporting is ultimately a selling location income statement with a ROA calculation and the results are compiled by geographic region. ROA pre-tax profit measures financial performance and drives compensation programs. Our Chief Executive Officer and President/Chief Sales Officer are our Chief Operating Decision Maker (CODM). We consider each geographic region to be an operating segment. The CODM regularly reviews ROA pre-tax profit to make decisions about the allocation of resources at the geographic region level. Operating segment significant expense categories and amounts are not regularly reviewed by or provided to our CODM. Segment expenses represent the difference between net sales and ROA pre-tax profit and consist of cost of sales and SG&A expenses. However, our CODM reviews consolidated expense information to manage the operations of the business. Considering our operating segments outside of the U.S. individually represent less than 10% of our total operating segment net sales, ROA pre-tax profit, and ROA assets, we do not consider them reportable segments. Therefore, we report the results of the U.S. reportable segment below. Prior to the fourth quarter of 2024, we aggregated the U.S., Canada, and Mexico operating segments into one operating segment, which we referred to as North America. In the fourth quarter of 2024, we discontinued aggregating the U.S., Canada, and Mexico operating segments into one operating segment. We no longer meet the criteria to aggregate these operating segments as we no longer believe the operating segments to be economically similar. Further details on our significant accounting policies can be found in Note 1 of our Form 10-K, which are applied company wide. Our measure of profit or loss is ROA pre-tax profit and our measure of assets is ROA assets. ROA pre-tax profit is not a financial measure calculated in accordance with GAAP and excludes inter-company transactions. The following table presents a reconciliation of reportable segment net sales from external customers to consolidated net sales for the periods ended December 31: 2024 2023 2022 U.S. net sales from external customers $ 6,273.1 6,139.8 5,867.1 Other operating segment net sales (1) 1,272.9 1,206.9 1,113.5 Net sales $ 7,546.0 7,346.7 6,980.6 (1) Other operating segment net sales includes all other operating segments that are below the reportable segment quantitative threshold. The following table presents a reconciliation of reportable segment ROA pre-tax profit to consolidated income before income taxes for the periods ended December 31: 2024 2023 2022 U.S. ROA pre-tax profit $ 1,303.2 1,318.2 1,254.2 Other operating segment pre-tax profit (1) 204.9 203.8 185.8 Income before income taxes $ 1,508.1 1,522.0 1,440.0 (1) Other operating segment pre-tax profit includes ROA pre-tax profit for all other operating segments that are below the reportable segment quantitative threshold and immaterial allocations excluded from ROA pre-tax profit. The following table presents a reconciliation of reportable segment ROA assets to consolidated total assets for the periods ended December 31: 2024 2023 U.S. ROA assets (1) $ 2,189.6 2,103.0 Other operating segment ROA assets (2) 585.2 565.1 Other current assets (3) 580.0 489.4 Property and equipment 915.6 876.1 Intangibles and other assets 148.4 159.1 Operating lease right-of-use assets 279.2 270.2 Total assets $ 4,698.0 4,462.9 (1) Operating segment ROA assets primarily include accounts receivable, inventory, in-market location vehicles, and exclude certain centrally managed assets. (2) Other operating segment ROA assets include all other operating segments that are below the reportable segment quantitative threshold. (3) Other current assets includes cash and cash equivalents, the allowance for credit losses, inventories that are centrally managed, prepaid income taxes, and other current assets. Other Segment Items Interest revenue and interest expense included in the ROA pre-tax profit are not material. The following table presents a reconciliation of reportable segment ROA pre-tax profit depreciation and amortization expense to consolidated depreciation and amortization expense for the periods ended December 31: 2024 2023 2022 U.S. ROA pre-tax profit depreciation and amortization expense $ 188.1 168.1 156.4 Other operating segment ROA pre-tax profit depreciation and amortization expense (1) 27.4 24.7 23.0 Other reconciling items (2) (40.1) (15.5) (2.8) Depreciation and amortization expense $ 175.4 177.3 176.6 (1) Other operating segment ROA pre-tax profit depreciation and amortization expense include all other operating segments that are below the reportable segment quantitative threshold. (2) Other reconciling items includes depreciation and amortization expense for certain assets not allocated to the ROA and differences in allocations specific to the ROA that drive decisions in the field and compensation programs.

Legal Contingencies

Legal Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Legal Contingencies	Note 11. Legal Contingencies We are involved in certain legal actions, including those that are ordinary routine litigation incidental to our business. 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 sales. 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, 2024, there were no litigation matters that we consider to be probable or reasonably possible to have a material adverse outcome.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 12. 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 option activities disclosed in Note 5.

Schedule II-Valuation and Quali

Schedule II-Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II-Valuation and Qualifying Accounts	Schedule II—Valuation and Qualifying Accounts Years ended December 31, 2024, 2023, and 2022 (Amounts in millions) Description Balance at "Additions/(Reductions)" to "Other" "Less" Balance Year ended December 31, 2024 Allowance for credit losses $ 6.4 1.3 — 2.5 5.2 Insurance reserves $ 40.1 102.4 (1) — 102.2 (2) 40.3 Year ended December 31, 2023 Allowance for credit losses $ 8.3 2.2 — 4.1 6.4 Insurance reserves $ 40.4 86.2 (1) — 86.5 (2) 40.1 Year ended December 31, 2022 Allowance for credit losses $ 12.0 (1.8) — 1.9 8.3 Insurance reserves $ 35.7 78.2 (1) — 73.5 (2) 40.4 (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.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income	$ 1,150.6	$ 1,155	$ 1,086.9

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	We have established processes and procedures for ensuring the confidentiality, integrity, and availability of data. These processes are in place to assess, identify, and manage material risks from cybersecurity threats. Annual risk assessments are performed and incorporated as part of our Enterprise Risk Management (ERM) organizational process, which is overseen by our Board of Directors (the Board) and the Audit Committee, along with Executive Leadership. Our information security management system (ISMS) program is aligned to ISO 27001, which is an international standard to manage information security. ISO 27001 is published by the International Organization for Standardization (ISO), the world's largest developer of voluntary standards, and the International Electrotechnical Commission. Our IT security department, led by our Senior Vice President (SVP) IT Infrastructure & Security, is tasked with monitoring cybersecurity and operational risks related to information security and system disruption. The team employs measures designed to protect against, detect, and respond to cybersecurity threats, and has implemented processes and procedures aligned with our ISMS to support and promote resilient programs. This includes: • Enterprise security framework and cybersecurity standards; • Cybersecurity awareness and training plans; • Security assessments and monitoring; • Restricted physical access to critical areas, servers, and network equipment; • Incident response, crisis management, business continuity, and disaster recovery plans; and • Third-party IT vendor risk management process to identify, assess, and manage risks presented by our IT vendors and business partners. Our IT security department maintains a playbook to respond to potential cybersecurity threats. We conduct tabletop exercises for tactical response readiness, perform regular security scans of our environment both from an external and internal perspective, as well as work with a qualified third-party vendor to perform penetration tests of our environment. Any identified risks are included in our overall risk management program, and internal and external auditors validate our IT controls on a regular basis. We conduct organization-wide cybersecurity training and compliance exercises in connection with our information security program. This training consists of educational material and compliance testing administered to all of our employees, which is tracked and recorded throughout the year. Results and progress are shared with Executive Leadership, the Audit Committee, and the Board. Employee phishing tests are conducted on a regular basis. Employees who do not follow protocol are redirected for additional training. We have implemented an IT vendor risk management policy that provides guidance in managing risks associated with IT vendors and business partners. We have also established a third-party risk management program and conduct pre-onboarding security assessments and annual re-assessments of our service providers to collect, track, and manage third-party security controls based upon the risk presented to the business. Any issues identified during assessment are tracked through to remediation.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Annual risk assessments are performed and incorporated as part of our Enterprise Risk Management (ERM) organizational process, which is overseen by our Board of Directors (the Board) and the Audit Committee, along with Executive Leadership. Our information security management system (ISMS) program is aligned to ISO 27001, which is an international standard to manage information security. ISO 27001 is published by the International Organization for Standardization (ISO), the world's largest developer of voluntary standards, and the International Electrotechnical Commission. Our IT security department, led by our Senior Vice President (SVP) IT Infrastructure & Security, is tasked with monitoring cybersecurity and operational risks related to information security and system disruption. The team employs measures designed to protect against, detect, and respond to cybersecurity threats, and has implemented processes and procedures aligned with our ISMS to support and promote resilient programs. This includes: • Enterprise security framework and cybersecurity standards; • Cybersecurity awareness and training plans; • Security assessments and monitoring; • Restricted physical access to critical areas, servers, and network equipment; • Incident response, crisis management, business continuity, and disaster recovery plans; and • Third-party IT vendor risk management process to identify, assess, and manage risks presented by our IT vendors and business partners. Our IT security department maintains a playbook to respond to potential cybersecurity threats. We conduct tabletop exercises for tactical response readiness, perform regular security scans of our environment both from an external and internal perspective, as well as work with a qualified third-party vendor to perform penetration tests of our environment. Any identified risks are included in our overall risk management program, and internal and external auditors validate our IT controls on a regular basis. We conduct organization-wide cybersecurity training and compliance exercises in connection with our information security program. This training consists of educational material and compliance testing administered to all of our employees, which is tracked and recorded throughout the year. Results and progress are shared with Executive Leadership, the Audit Committee, and the Board. Employee phishing tests are conducted on a regular basis. Employees who do not follow protocol are redirected for additional training.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Board and Audit Committee are actively engaged in the oversight of our risk management, including cybersecurity risk. The Audit Committee receives quarterly reports on information security from our SVP IT Infrastructure & Security. Additionally, Executive Leadership is briefed on information security at least quarterly by members of our IT security, compliance, governance, and audit teams. The Audit Committee of the Board is responsible for overseeing our risk exposure to information security, cybersecurity, and data protection, as well as the steps management has taken to monitor and control such exposures. Our IT security department, which assesses and manages our risks from cybersecurity threats, is led by our SVP IT Infrastructure & Security, who reports to our Senior EVP IT. Additional oversight for assessing and managing cybersecurity risk include Executive sponsors, IT, Human Resources, IT Governance Risk and Compliance, Internal Audit, and Legal, as well as members of our Information Security Risk Council, IT Risk Committee, and ERM teams. We have in place an incident response plan to identify, protect, detect, respond to, and recover from cybersecurity threats and incidents. The Information Security Risk Council, Executive Leadership, the Audit Committee, and the Board are notified of any material cybersecurity incidents through an established escalation process. Additionally, we maintain a qualified third-party vendor relationship which is available to the team for on-demand incident response and investigation, as needed. The IT security department team members have degrees applicable to cybersecurity, including Bachelors in Information Systems, Computer Science, Management Information Systems and/or Masters in Cybersecurity, and hold professional certifications, including Certified Information Systems Security Professional, Offensive Security Certified Professional, Global Information Assurance Certification (GIAC) Defensible Security Architecture, GIAC Forensic Examiner, GIAC Incident Handling, and GIAC Open Source Intelligence. Our SVP IT Infrastructure & Security holds a Cybersecurity and Privacy Law Certificate from Mitchell Hamline School of Law, and has 29 years of experience in systems, network, and database administration. Additionally, our Senior IT security department manager is an Offensive Security Certified Professional, and holds GIAC Security Leadership (GSLC), with over 25 years of experience in network performance, availability, and protection.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Board and Audit Committee are actively engaged in the oversight of our risk management, including cybersecurity risk. The Audit Committee receives quarterly reports on information security from our SVP IT Infrastructure & Security. Additionally, Executive Leadership is briefed on information security at least quarterly by members of our IT security, compliance, governance, and audit teams. The Audit Committee of the Board is responsible for overseeing our risk exposure to information security, cybersecurity, and data protection, as well as the steps management has taken to monitor and control such exposures.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	We have in place an incident response plan to identify, protect, detect, respond to, and recover from cybersecurity threats and incidents. The Information Security Risk Council, Executive Leadership, the Audit Committee, and the Board are notified of any material cybersecurity incidents through an established escalation process. Additionally, we maintain a qualified third-party vendor relationship which is available to the team for on-demand incident response and investigation, as needed.
Cybersecurity Risk Role of Management [Text Block]	Our IT security department, which assesses and manages our risks from cybersecurity threats, is led by our SVP IT Infrastructure & Security, who reports to our Senior EVP IT. Additional oversight for assessing and managing cybersecurity risk include Executive sponsors, IT, Human Resources, IT Governance Risk and Compliance, Internal Audit, and Legal, as well as members of our Information Security Risk Council, IT Risk Committee, and ERM teams.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The Audit Committee receives quarterly reports on information security from our SVP IT Infrastructure & Security. Additionally, Executive Leadership is briefed on information security at least quarterly by members of our IT security, compliance, governance, and audit teams. The Audit Committee of the Board is responsible for overseeing our risk exposure to information security, cybersecurity, and data protection, as well as the steps management has taken to monitor and control such exposures.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	The IT security department team members have degrees applicable to cybersecurity, including Bachelors in Information Systems, Computer Science, Management Information Systems and/or Masters in Cybersecurity, and hold professional certifications, including Certified Information Systems Security Professional, Offensive Security Certified Professional, Global Information Assurance Certification (GIAC) Defensible Security Architecture, GIAC Forensic Examiner, GIAC Incident Handling, and GIAC Open Source Intelligence. Our SVP IT Infrastructure & Security holds a Cybersecurity and Privacy Law Certificate from Mitchell Hamline School of Law, and has 29 years of experience in systems, network, and database administration. Additionally, our Senior IT security department manager is an Offensive Security Certified Professional, and holds GIAC Security Leadership (GSLC), with over 25 years of experience in network performance, availability, and protection.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	We have in place an incident response plan to identify, protect, detect, respond to, and recover from cybersecurity threats and incidents. The Information Security Risk Council, Executive Leadership, the Audit Committee, and the Board are notified of any material cybersecurity incidents through an established escalation process. Additionally, we maintain a qualified third-party vendor relationship which is available to the team for on-demand incident response and investigation, as needed.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Business Overview and Summary_2

Business Overview and Summary of Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2024
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	Net sales include products and shipping and handling charges, net of estimates for product returns and any related sales incentives. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring products. All revenue is recognized when or as we satisfy our performance obligations under the contract. We recognize revenue by transferring control of the promised products to the customer, with the majority of revenue recognized at the point in time the customer obtains control of the products. We recognize revenue for shipping and handling charges at the time the products are delivered to or picked up by the customer. We estimate product returns based on historical return rates. Using probability assessments, which are based on known inputs at year-end, we estimate sales incentives expected to be paid over the term of the contract. The majority of our contracts have a single performance obligation and are short-term in nature. Sales taxes and value added taxes in foreign jurisdictions that are collected from customers and remitted to governmental authorities are accounted for on a net basis and therefore are excluded from net sales.
Accounts Receivable	Credit is extended based upon an evaluation of the customer's financial condition. Accounts receivable are stated at their estimated net realizable value. The allowance for credit losses is based on an income statement approach which adjusts the ending balance sheet to take into consideration expected losses over the contractual lives of the receivables, considering factors such as historical data as a basis for future expected losses.
Foreign Currency Translation and Transactions	The functional currency of our foreign operations is typically the applicable local currency. The functional currency is translated into U.S. 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 sales and expense accounts using a weighted average exchange rate during the applicable period. The translation adjustments are deferred as a separate component of stockholders' equity captioned accumulated other comprehensive income (loss). Gains or losses resulting from transactions denominated in foreign currencies are included in cost of sales or SG&A expenses.
Cash and Cash Equivalents	We consider all highly liquid investments purchased with original maturities of three months or less to be cash equivalents.
Inventories	Inventories, which consist of finished goods merchandise that is held for resale, are stated at the lower of cost (first in, first out method) or net realizable value. We record valuation adjustments for excess, slow-moving, and obsolete inventory that are equal to the difference between the cost and estimated net realizable value for that inventory. These estimates are based on a review and comparison of the current inventory levels to projected and historical sales of inventory.
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.
Leases	We determine if an arrangement contains a lease at inception. Operating leases are included in our operating lease right-of-use (ROU) assets, the current portion of operating lease liabilities, and the operating lease liabilities in our Consolidated Balance Sheets. The ROU assets represent our right to control the use of an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. The operating lease ROU assets also include any prepaid lease payments made and exclude lease incentives. Lease expense is recognized on a straight-line basis over the lease term. Many of our leases include both lease (e.g., fixed payments including rent, taxes, and insurance costs) and non-lease components (e.g., common-area or other maintenance costs) which are accounted for as a single lease component as we have elected the practical expedient to group lease and non-lease components for all leases. Our pick-up truck leases typically have a non-cancelable lease term of less than one year and therefore, we have elected the practical expedient to exclude these short-term leases from our ROU assets and lease liabilities. Most leases include one or more options to renew. The exercise of lease renewal options is typically at our sole discretion; therefore, the majority of renewals to extend the lease terms are not included in our ROU assets and lease liabilities as they are not reasonably certain of exercise. We regularly evaluate the renewal options and when they are reasonably certain of exercise, we include the renewal period in our lease term.
Long-Lived Assets	Long-lived assets consist of net property and equipment, operating lease right-of-use assets, prepaid deposits, goodwill, and definite-lived intangible assets, and are reviewed for impairment whenever an event or change in circumstance indicates that the carrying amount of the 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
Long-Lived Assets (Goodwill and Other)	Goodwill represents the excess of the purchase price over the fair value of net assets acquired. Goodwill is reviewed for impairment annually. The identifiable 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. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, sales and expenses, and the disclosure of contingent liabilities. Actual results could differ from those estimates.
Insurance Reserves	We are self-insured for certain losses relating to workers' compensation, automobile, health, and general liability costs. Specific stop-loss coverage is provided for catastrophic claims in order to limit exposure to significant claims. Self-insurance liabilities are based on our estimate of reported claims and claims incurred but not yet reported. We analyze historical trends, claims experience, and loss development patterns to ensure the appropriate loss development factors are applied to the incurred costs associated with the claims made.
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 immaterial.
Stock-Based Compensation	We estimate the fair value of stock options as of the date of the grant using a Black-Scholes valuation model. Stock-based compensation expense equal to the grant date fair value is recognized on a straight-line basis over the vesting period. Our stock-based compensation expense is recorded in SG&A expenses.
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.
Net Income Per Share	Basic net income per share is calculated using net income available to common stockholders divided by the weighted average number of shares of common stock outstanding during the year. Diluted net income per share is similar to basic net income 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).
Recently Adopted and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which enhances reporting requirements under Topic 280. The enhanced disclosure requirements include: title and position of the Chief Operating Decision Maker (CODM), significant segment expenses provided to the CODM, extending certain annual disclosures to interim periods, clarifying single reportable segment entities must apply Accounting Standards Codification 280 in its entirety, and permitting more than one measure of segment profit or loss to be reported under certain circumstances. This change is effective for fiscal years beginning after December 15, 2023 and interim periods beginning after December 15, 2024. We adopted ASU 2023-07 for the year ended December 31, 2024 and have applied the guidance retrospectively for all periods presented within the notes to the consolidated financial statements in this Form 10-K. Recently Issued Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740) , which establishes new income tax disclosure requirements in addition to modifying and eliminating certain existing requirements. The new guidance requires consistent categorization and greater disaggregation of information in the rate reconciliation, as well as further disaggregation of income taxes paid. This change is effective for annual periods beginning after December 15, 2024. This change will apply on a prospective basis to annual financial statements for periods beginning after the effective date. However, retrospective application in all prior periods presented is permitted. We are currently evaluating the impact that the adoption of ASU 2023-09 will have on our consolidated financial statements and disclosures and we anticipate adoption in our 2025 annual report on Form 10-K. In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses (DISE) , which specifies additional disclosure requirements. The new guidance requires additional disclosures, including the composition of certain income expense line items (such as purchases of inventory, employee compensation, and 'other expenses') and a separate disclosure for selling expenses. This change is effective for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027, however, early adoption is permitted. We are currently evaluating the impact that the adoption of ASU 2024-03 will have on our consolidated financial statements and disclosures and we anticipate adoption in our 2027 annual report on Form 10-K.

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Our revenues related to the following geographic areas were as follows for the periods ended December 31: Twelve-month Period 2024 2023 2022 United States $ 6,273.1 6,139.8 5,867.1 % of revenues 83.1 % 83.6 % 84.0 % Canada and Mexico 1,035.6 981.9 884.4 % of revenues 13.7 % 13.4 % 12.7 % All other foreign countries 237.3 225.0 229.1 % of revenues 3.2 % 3.0 % 3.3 % Total revenues $ 7,546.0 7,346.7 6,980.6 The percentages of our sales by end market were as follows for the periods ended December 31: Twelve-month Period 2024 2023 2022 Manufacturing 75.0 % 74.3 % 72.2 % Non-residential construction 8.5 % 9.1 % 10.3 % Other 16.5 % 16.6 % 17.5 % 100.0 % 100.0 % 100.0 % The percentages of our sales by product line were as follows for the periods ended December 31: Twelve-month Period Type Introduced 2024 2023 2022 Fasteners (1) 1967 30.7 % 32.4 % 34.0 % Tools 1993 8.4 % 8.5 % 8.4 % Cutting tools 1996 5.3 % 5.3 % 5.0 % Hydraulics & pneumatics 1996 6.7 % 6.7 % 6.5 % Material handling 1996 5.6 % 5.6 % 5.7 % Janitorial supplies 1996 8.8 % 8.4 % 8.0 % Electrical supplies 1997 4.7 % 4.6 % 4.4 % Welding supplies 1997 4.2 % 4.1 % 3.9 % Safety supplies 1999 22.2 % 21.2 % 20.8 % Other 3.4 % 3.2 % 3.3 % 100.0 % 100.0 % 100.0 % (1) The fastener product line represents fasteners and miscellaneous supplies.

Long-Lived Assets (Tables)

Long-Lived Assets (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment at year end consisted of the following: Depreciable Life 2024 2023 Land — $ 72.6 67.2 Buildings and improvements 15 to 40 563.6 525.1 Automated distribution and warehouse equipment 5 to 30 293.5 271.7 Shelving, industrial vending, and equipment 3 to 10 1,436.3 1,366.5 Transportation equipment 3 to 5 103.3 98.3 Construction in progress — 117.2 107.8 2,586.5 2,436.6 Less accumulated depreciation (1,529.9) (1,425.5) Property and equipment, net $ 1,056.6 1,011.1
Schedule of Long-Lived Assets by Geographic Areas	Our long-lived assets related to the following geographic areas at year end: 2024 2023 United States $ 1,343.2 1,314.2 Canada and Mexico 101.3 87.2 All other foreign countries 41.6 40.6 Total long-lived assets $ 1,486.1 1,442.0

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses at year end consisted of the following: 2024 2023 Employee payroll and related taxes $ 17.9 15.2 Employee bonuses and commissions 25.5 32.3 Profit sharing contribution 20.8 23.1 Insurance reserves 26.2 40.1 Indirect taxes 32.7 36.1 Customer promotions and marketing 64.2 63.3 Occupancy (1) 8.5 3.9 Transportation (1) 5.7 5.4 Other (1) 24.1 21.6 Accrued expenses $ 225.6 241.0 (1) In 2024, we disaggregated certain accrual category designations and have conformed the prior period amounts to the current year presentation.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2024
Stockholders' Equity Note [Abstract]
Stock Option Plan Activity and Stock Options Granted	The following tables summarize the details of options granted under our stock option plans that were still outstanding as of December 31, 2024, and the assumptions used to value those grants. All such grants were effective at the close of business on the date of grant. Options Option Exercise Closing Stock December 31, 2024 Date of Grant Options Options January 2, 2024 814,912 $ 64.00 $ 63.550 766,463 47,567 January 3, 2023 1,071,943 $ 48.00 $ 47.400 883,852 180,820 January 3, 2022 713,438 $ 62.00 $ 61.980 529,511 197,013 January 4, 2021 741,510 $ 48.00 $ 47.650 477,333 223,592 January 2, 2020 902,263 $ 38.00 $ 37.230 514,889 313,822 January 2, 2019 1,316,924 $ 26.00 $ 25.705 532,075 404,203 January 2, 2018 1,087,936 $ 27.50 $ 27.270 318,598 248,436 January 3, 2017 1,529,578 $ 23.50 $ 23.475 158,168 117,840 April 19, 2016 1,690,880 $ 23.00 $ 22.870 47,038 47,038 Total 9,869,384 4,227,927 1,780,331 A summary of activities under our stock option plans consisted of the following: Options Exercise Price (1) Remaining Life (2) Outstanding as of January 1, 2024 4,974,078 $ 38.70 5.99 Granted 814,912 $ 64.00 9.00 Exercised (1,338,085) $ 29.72 Cancelled/forfeited (222,978) $ 48.12 Outstanding as of December 31, 2024 4,227,927 $ 45.93 6.28 Exercisable as of December 31, 2024 1,780,331 $ 38.08 4.94 Options Exercise (1) Remaining Life (2) Outstanding as of January 1, 2023 5,374,736 $ 34.37 5.66 Granted 1,071,943 $ 48.00 9.00 Exercised (1,170,693) $ 25.69 Cancelled/forfeited (301,908) $ 45.00 Outstanding as of December 31, 2023 4,974,078 $ 38.70 5.99 Exercisable as of December 31, 2023 2,197,022 $ 30.88 4.54 (1) Weighted average exercise price. (2) Weighted average remaining contractual life in years.
Fair Value Assumptions for Options Granted	Date of Grant Risk-free Expected Life Expected Expected Estimated Fair January 2, 2024 3.8% 5.00 2.2% 28.44 % $ 15.87 January 3, 2023 4.0% 5.00 2.6% 29.58 % $ 11.62 January 3, 2022 1.3% 5.00 1.7% 28.52 % $ 13.68 January 4, 2021 0.4% 5.00 2.0% 29.17 % $ 9.57 January 2, 2020 1.7% 5.00 2.4% 25.70 % $ 6.81 January 2, 2019 2.5% 5.00 2.9% 23.96 % $ 4.40 January 2, 2018 2.2% 5.00 2.3% 23.45 % $ 5.02 January 3, 2017 1.9% 5.00 2.6% 24.49 % $ 4.20 April 19, 2016 1.3% 5.00 2.6% 26.34 % $ 4.09
Schedule of Common Stock Outstanding Roll Forward	Shares of common stock outstanding were as follows: 2024 2023 2022 Balance at beginning of year 571,982,367 570,811,674 575,464,682 Stock options exercised 1,338,085 1,170,693 346,992 Purchases of common stock — — (5,000,000) Balance at end of year 573,320,452 571,982,367 570,811,674
Reconciliation of Denominators Used in Computation of Basic and Diluted Net Income Per Share	The following tables present a reconciliation of the denominators used in the computation of basic and diluted net income per share and a summary of the options to purchase shares of common stock which were excluded from the diluted net income per share calculation because they were anti-dilutive: Reconciliation 2024 2023 2022 Basic weighted average shares outstanding 572,708,065 571,271,846 573,777,790 Weighted shares assumed upon exercise of stock options 1,574,146 1,736,762 1,845,324 Diluted weighted average shares outstanding 574,282,211 573,008,608 575,623,114
Anti-Dilutive Options Excluded	Summary of Anti-dilutive Options Excluded 2024 2023 2022 Options to purchase shares of common stock 913,296 1,568,460 1,335,898 Weighted average exercise prices of options $ 63.57 53.80 55.25

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Before Income Taxes	Income before income taxes were derived from the following sources: 2024 2023 2022 Domestic $ 1,390.6 1,392.7 1,335.7 Foreign 117.5 129.3 104.3 Income before income taxes $ 1,508.1 1,522.0 1,440.0
Components of Income Tax Expense (Benefit)	Components of income tax expense (benefit) were as follows: 2024 2023 2022 Current Deferred Total Current Deferred Total Current Deferred Total Federal $ 265.6 (3.0) 262.6 273.3 (9.2) 264.1 267.6 (5.0) 262.6 State 56.1 (0.1) 56.0 59.6 (1.3) 58.3 58.0 (1.1) 56.9 Foreign 39.6 (0.7) 38.9 44.9 (0.3) 44.6 35.0 (1.4) 33.6 Income tax expense $ 361.3 (3.8) 357.5 377.8 (10.8) 367.0 360.6 (7.5) 353.1
Difference In Income Tax Expense And Expected Expense	Income tax expense in the accompanying consolidated financial statements differed from the expected expense as follows: 2024 2023 2022 Amount Percent Amount Percent Amount Percent United States federal statutory income tax $ 316.7 21.0 % $ 319.6 21.0 % $ 302.4 21.0 % State income taxes, net of federal benefit 43.3 2.9 % 45.1 3.0 % 45.6 3.2 % Other, net (2.5) -0.2 % 2.3 0.1 % 5.1 0.3 % Effective income tax rate $ 357.5 23.7 % $ 367.0 24.1 % $ 353.1 24.5 %
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 consisted of the following: 2024 2023 Deferred income tax assets: Inventory costing and valuation methods $ 5.9 5.6 Insurance reserves 5.5 8.3 Foreign net operating loss and credit carryforwards 2.4 3.0 Stock-based compensation 3.7 3.8 Operating lease liabilities 72.2 69.5 Section 174 capitalization 11.1 7.4 Other, deferred tax assets 8.3 9.4 Total deferred income tax assets 109.1 107.0 Less: Valuation allowances (1.8) (2.2) Total net deferred income tax assets 107.3 104.8 Deferred income tax liabilities: Property and equipment (90.9) (95.4) Operating lease ROU assets (70.6) (68.3) Prepaid expenses (4.6) (3.5) Other, deferred tax liabilities (0.2) (0.4) Total deferred income tax liabilities (166.3) (167.6) Net deferred income tax liabilities $ (59.0) (62.8)
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 is as follows: 2024 2023 Balance at beginning of year: $ 10.2 10.1 Increase related to prior year tax positions 1.1 5.6 Increase related to current year tax positions 0.4 0.6 Decrease related to statute of limitation lapses (1.8) (6.1) Balance at end of year: $ 9.9 10.2

Operating Leases (Tables)

Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Cost Components of Operating Leases, Weighted Average Lease Terms, Discount Rates, and Supplemental Cash Flow Information	The cost components of our operating leases were as follows for the periods ended December 31: 2024 2023 2022 Leased Leased Total Leased Leased Total Leased Leased Total Operating lease cost $ 101.1 22.0 123.1 99.4 18.2 117.6 96.8 14.7 111.5 Variable lease cost 14.0 1.4 15.4 10.5 1.6 12.1 9.7 1.5 11.2 Short-term lease cost — 32.6 32.6 — 23.7 23.7 — 26.6 26.6 Total $ 115.1 56.0 171.1 109.9 43.5 153.4 106.5 42.8 149.3 The weighted average remaining lease terms and discount rates for all of our operating leases were as follows for the periods ended December 31: Remaining lease term and discount rate: 2024 2023 Weighted average remaining lease term (years) Leased facilities and equipment 3.98 3.76 Leased vehicles 3.62 3.77 Weighted average discount rate Lease facilities and equipment 3.92% 3.07% Leased vehicles 4.46% 4.03% Supplemental cash flow information related to our operating leases was as follows for the periods ended December 31: 2024 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflow from operating leases $ 119.0 115.7 110.9 Leased assets obtained in exchange for new operating lease liabilities 95.0 116.2 89.4
Maturities of Lease Liabilities	Maturities of our lease liabilities for all operating leases were as follows as of December 31, 2024: Leased Leased Total 2025 $ 89.0 15.0 104.0 2026 66.7 11.7 78.4 2027 45.8 7.9 53.7 2028 29.7 5.4 35.1 2029 16.1 2.7 18.8 2030 and thereafter 19.0 0.9 19.9 Total lease payments $ 266.3 43.6 309.9 Less: Imputed interest (21.1) (3.4) (24.5) Present value of lease liabilities $ 245.2 40.2 285.4

Debt Commitments (Tables)

Debt Commitments (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Debt Obligations and Letters of Credit Outstanding	Debt obligations and letters of credit outstanding at year end consisted of the following: Average Interest Rate at December 31, 2024 Debt Outstanding Maturity 2024 2023 Unsecured revolving credit facility 5.36 % September 28, 2027 $ — — Senior unsecured promissory notes payable, Series C 3.22 % March 1, 2024 — 60.0 Senior unsecured promissory notes payable, Series D 2.66 % May 15, 2025 75.0 75.0 Senior unsecured promissory notes payable, Series E 2.72 % May 15, 2027 50.0 50.0 Senior unsecured promissory notes payable, Series G 2.13 % June 24, 2026 25.0 25.0 Senior unsecured promissory notes payable, Series H 2.50 % June 24, 2030 50.0 50.0 Total 200.0 260.0 Less: Current portion of debt (75.0) (60.0) Long-term debt $ 125.0 200.0 Outstanding letters of credit under unsecured revolving credit facility - contingent obligation $ 31.2 32.7
Schedule of Maturities of Long-term Debt	Principal payments required on our outstanding indebtedness, based on the maturity dates defined within our long-term debt arrangements, for the succeeding five years, are displayed in the table below, as of December 31, 2024: Principal Payments 2025 $ 75.0 2026 25.0 2027 50.0 2028 — 2029 — 2030 and thereafter 50.0 Total $ 200.0

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Reconciliation of Reportable Segment Net Sales from External Customers to Consolidated Net Sales	The following table presents a reconciliation of reportable segment net sales from external customers to consolidated net sales for the periods ended December 31: 2024 2023 2022 U.S. net sales from external customers $ 6,273.1 6,139.8 5,867.1 Other operating segment net sales (1) 1,272.9 1,206.9 1,113.5 Net sales $ 7,546.0 7,346.7 6,980.6 (1)
Reconciliation of Reportable Segment ROA Pre-Tax Profit to Consolidated Income Before Income Taxes	The following table presents a reconciliation of reportable segment ROA pre-tax profit to consolidated income before income taxes for the periods ended December 31: 2024 2023 2022 U.S. ROA pre-tax profit $ 1,303.2 1,318.2 1,254.2 Other operating segment pre-tax profit (1) 204.9 203.8 185.8 Income before income taxes $ 1,508.1 1,522.0 1,440.0 (1) Other operating segment pre-tax profit includes ROA pre-tax profit for all other operating segments that are below the reportable segment quantitative threshold and immaterial allocations excluded from ROA pre-tax profit.
Reconciliation of Reportable Segment ROA Assets to Consolidated Total Assets	The following table presents a reconciliation of reportable segment ROA assets to consolidated total assets for the periods ended December 31: 2024 2023 U.S. ROA assets (1) $ 2,189.6 2,103.0 Other operating segment ROA assets (2) 585.2 565.1 Other current assets (3) 580.0 489.4 Property and equipment 915.6 876.1 Intangibles and other assets 148.4 159.1 Operating lease right-of-use assets 279.2 270.2 Total assets $ 4,698.0 4,462.9 (1) Operating segment ROA assets primarily include accounts receivable, inventory, in-market location vehicles, and exclude certain centrally managed assets. (2) Other operating segment ROA assets include all other operating segments that are below the reportable segment quantitative threshold. (3) Other current assets includes cash and cash equivalents, the allowance for credit losses, inventories that are centrally managed, prepaid income taxes, and other current assets.
Reconciliation of Other Segment Items	Interest revenue and interest expense included in the ROA pre-tax profit are not material. The following table presents a reconciliation of reportable segment ROA pre-tax profit depreciation and amortization expense to consolidated depreciation and amortization expense for the periods ended December 31: 2024 2023 2022 U.S. ROA pre-tax profit depreciation and amortization expense $ 188.1 168.1 156.4 Other operating segment ROA pre-tax profit depreciation and amortization expense (1) 27.4 24.7 23.0 Other reconciling items (2) (40.1) (15.5) (2.8) Depreciation and amortization expense $ 175.4 177.3 176.6 (1) Other operating segment ROA pre-tax profit depreciation and amortization expense include all other operating segments that are below the reportable segment quantitative threshold. (2) Other reconciling items includes depreciation and amortization expense for certain assets not allocated to the ROA and differences in allocations specific to the ROA that drive decisions in the field and compensation programs.

Business Overview and Summary_3

Business Overview and Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) location	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Accounting Policies [Abstract]
Approximate number of in-market locations | location	3,600
Non-cancelable lease term, pick-up truck, (less than)	1 year
Impairment of property and equipment long-lived assets | $	$ 0	$ 0	$ 0

Revenue - Revenues by Geographi

Revenue - Revenues by Geographic Areas (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues by Geographic Areas [Line Items]
Total revenues	$ 7,546	$ 7,346.7	$ 6,980.6
United States
Revenues by Geographic Areas [Line Items]
Total revenues	$ 6,273.1	$ 6,139.8	$ 5,867.1
United States | Revenues | Geographic Concentration Risk
Revenues by Geographic Areas [Line Items]
Percentage of revenues	83.10%	83.60%	84%
Canada and Mexico
Revenues by Geographic Areas [Line Items]
Total revenues	$ 1,035.6	$ 981.9	$ 884.4
Canada and Mexico | Revenues | Geographic Concentration Risk
Revenues by Geographic Areas [Line Items]
Percentage of revenues	13.70%	13.40%	12.70%
All other foreign countries
Revenues by Geographic Areas [Line Items]
Total revenues	$ 237.3	$ 225	$ 229.1
All other foreign countries | Revenues | Geographic Concentration Risk
Revenues by Geographic Areas [Line Items]
Percentage of revenues	3.20%	3%	3.30%

Revenue - Percentages of Sales

Revenue - Percentages of Sales by End Market (Details) - End Market - Sales	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Percentage of Sales by End Market [Line Items]
Percentage of sales	100%	100%	100%
Manufacturing
Percentage of Sales by End Market [Line Items]
Percentage of sales	75%	74.30%	72.20%
Non-residential construction
Percentage of Sales by End Market [Line Items]
Percentage of sales	8.50%	9.10%	10.30%
Other
Percentage of Sales by End Market [Line Items]
Percentage of sales	16.50%	16.60%	17.50%

Revenue - Percentages of Sale_2

Revenue - Percentages of Sales by Product Line (Details) - Product Line - Sales	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Percentage of Sales by Product Line [Line Items]
Percentage of sales	100%	100%	100%
Fasteners
Percentage of Sales by Product Line [Line Items]
Percentage of sales	30.70%	32.40%	34%
Tools
Percentage of Sales by Product Line [Line Items]
Percentage of sales	8.40%	8.50%	8.40%
Cutting tools
Percentage of Sales by Product Line [Line Items]
Percentage of sales	5.30%	5.30%	5%
Hydraulics & pneumatics
Percentage of Sales by Product Line [Line Items]
Percentage of sales	6.70%	6.70%	6.50%
Material handling
Percentage of Sales by Product Line [Line Items]
Percentage of sales	5.60%	5.60%	5.70%
Janitorial supplies
Percentage of Sales by Product Line [Line Items]
Percentage of sales	8.80%	8.40%	8%
Electrical supplies
Percentage of Sales by Product Line [Line Items]
Percentage of sales	4.70%	4.60%	4.40%
Welding supplies
Percentage of Sales by Product Line [Line Items]
Percentage of sales	4.20%	4.10%	3.90%
Safety supplies
Percentage of Sales by Product Line [Line Items]
Percentage of sales	22.20%	21.20%	20.80%
Other
Percentage of Sales by Product Line [Line Items]
Percentage of sales	3.40%	3.20%	3.30%

Long-Lived Assets - Property an

Long-Lived Assets - Property and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Property and Equipment, Net [Line Items]
Property and equipment	$ 2,586.5	$ 2,436.6
Less accumulated depreciation	(1,529.9)	(1,425.5)
Property and equipment, net	1,056.6	1,011.1
Land
Property and Equipment, Net [Line Items]
Property and equipment	72.6	67.2
Buildings and improvements
Property and Equipment, Net [Line Items]
Property and equipment	563.6	525.1
Automated distribution and warehouse equipment
Property and Equipment, Net [Line Items]
Property and equipment	293.5	271.7
Shelving, industrial vending, and equipment
Property and Equipment, Net [Line Items]
Property and equipment	1,436.3	1,366.5
Transportation equipment
Property and Equipment, Net [Line Items]
Property and equipment	103.3	98.3
Construction in progress
Property and Equipment, Net [Line Items]
Property and equipment	$ 117.2	$ 107.8
Minimum | Buildings and improvements
Property and Equipment, Net [Line Items]
Depreciable life in years	15 years
Minimum | Automated distribution and warehouse equipment
Property and Equipment, Net [Line Items]
Depreciable life in years	5 years
Minimum | Shelving, industrial vending, and equipment
Property and Equipment, Net [Line Items]
Depreciable life in years	3 years
Minimum | Transportation equipment
Property and Equipment, Net [Line Items]
Depreciable life in years	3 years
Maximum | Buildings and improvements
Property and Equipment, Net [Line Items]
Depreciable life in years	40 years
Maximum | Automated distribution and warehouse equipment
Property and Equipment, Net [Line Items]
Depreciable life in years	30 years
Maximum | Shelving, industrial vending, and equipment
Property and Equipment, Net [Line Items]
Depreciable life in years	10 years
Maximum | Transportation equipment
Property and Equipment, Net [Line Items]
Depreciable life in years	5 years

Long-Lived Assets - Geographic

Long-Lived Assets - Geographic Areas (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Long-Lived Assets by Geographic Areas [Line Items]
Total long-lived assets	$ 1,486.1	$ 1,442
United States
Long-Lived Assets by Geographic Areas [Line Items]
Total long-lived assets	1,343.2	1,314.2
Canada and Mexico
Long-Lived Assets by Geographic Areas [Line Items]
Total long-lived assets	101.3	87.2
All other foreign countries
Long-Lived Assets by Geographic Areas [Line Items]
Total long-lived assets	$ 41.6	$ 40.6

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Employee payroll and related taxes	$ 17.9	$ 15.2
Employee bonuses and commissions	25.5	32.3
Profit sharing contribution	20.8	23.1
Insurance reserves	26.2	40.1
Indirect taxes	32.7	36.1
Customer promotions and marketing	64.2	63.3
Occupancy	8.5	3.9
Transportation	5.7	5.4
Other	24.1	21.6
Accrued expenses	$ 225.6	$ 241

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended	12 Months Ended			104 Months Ended
	Jan. 16, 2025	Jan. 02, 2025	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2024
Stockholders' Equity Note [Abstract]
Cash dividends paid per share of common stock (in dollars per share)				$ 1.56	$ 1.78	$ 1.24
Special cash dividends paid per share of common stock (in dollars per share)			$ 0.38
Options vesting and exercisable period, maximum				8 years
Options termination period				10 years
Total intrinsic value of stock options exercised				$ 57.6	$ 38.1	$ 10.2
Total unrecognized stock-based compensation expense				$ 19			$ 19
Weighted average period over which total unrecognized stock-based compensation expense will be recognized				4 years 1 month 2 days
Total grant date fair value of stock options vested				$ 7.6	5.3	5.2
Total stock-based compensation expense				$ 8	$ 7.3	$ 7.2
Subsequent Event [Line Items]
Options Granted (in shares)							9,869,384
Subsequent Event
Subsequent Event [Line Items]
Cash dividends declared per share of common stock (in dollars per share)	$ 0.43
Subsequent Event | Employee Options
Subsequent Event [Line Items]
Options Granted (in shares)		639,304
Option Exercise Price (in dollars per share)		$ 72
Closing Stock Price on Date of Grant (in dollars per share)		$ 71.11
Subsequent Event | Non-employee Director Options
Subsequent Event [Line Items]
Options Granted (in shares)		44,014
Option Exercise Price (in dollars per share)		$ 72
Closing Stock Price on Date of Grant (in dollars per share)		$ 71.11

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Options Granted (Details)	104 Months Ended
	Dec. 31, 2024 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted (in shares)	9,869,384
Options Outstanding (in shares)	4,227,927
Options Exercisable (in shares)	1,780,331
January 2, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted (in shares)	814,912
Option Exercise Price (in dollars per share) | $ / shares	$ 64
Closing Stock Price on Date of Grant (in dollars per share) | $ / shares	$ 63.550
Options Outstanding (in shares)	766,463
Options Exercisable (in shares)	47,567
January 3, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted (in shares)	1,071,943
Option Exercise Price (in dollars per share) | $ / shares	$ 48
Closing Stock Price on Date of Grant (in dollars per share) | $ / shares	$ 47.400
Options Outstanding (in shares)	883,852
Options Exercisable (in shares)	180,820
January 3, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted (in shares)	713,438
Option Exercise Price (in dollars per share) | $ / shares	$ 62
Closing Stock Price on Date of Grant (in dollars per share) | $ / shares	$ 61.980
Options Outstanding (in shares)	529,511
Options Exercisable (in shares)	197,013
January 4, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted (in shares)	741,510
Option Exercise Price (in dollars per share) | $ / shares	$ 48
Closing Stock Price on Date of Grant (in dollars per share) | $ / shares	$ 47.650
Options Outstanding (in shares)	477,333
Options Exercisable (in shares)	223,592
January 2, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted (in shares)	902,263
Option Exercise Price (in dollars per share) | $ / shares	$ 38
Closing Stock Price on Date of Grant (in dollars per share) | $ / shares	$ 37.230
Options Outstanding (in shares)	514,889
Options Exercisable (in shares)	313,822
January 2, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted (in shares)	1,316,924
Option Exercise Price (in dollars per share) | $ / shares	$ 26
Closing Stock Price on Date of Grant (in dollars per share) | $ / shares	$ 25.705
Options Outstanding (in shares)	532,075
Options Exercisable (in shares)	404,203
January 2, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted (in shares)	1,087,936
Option Exercise Price (in dollars per share) | $ / shares	$ 27.50
Closing Stock Price on Date of Grant (in dollars per share) | $ / shares	$ 27.270
Options Outstanding (in shares)	318,598
Options Exercisable (in shares)	248,436
January 3, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted (in shares)	1,529,578
Option Exercise Price (in dollars per share) | $ / shares	$ 23.50
Closing Stock Price on Date of Grant (in dollars per share) | $ / shares	$ 23.475
Options Outstanding (in shares)	158,168
Options Exercisable (in shares)	117,840
April 19, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted (in shares)	1,690,880
Option Exercise Price (in dollars per share) | $ / shares	$ 23
Closing Stock Price on Date of Grant (in dollars per share) | $ / shares	$ 22.870
Options Outstanding (in shares)	47,038
Options Exercisable (in shares)	47,038

Stockholders' Equity - Fair Val

Stockholders' Equity - Fair Value Assumptions for Options Granted (Details)	12 Months Ended
	Dec. 31, 2024 $ / shares
January 2, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free Interest Rate	3.80%
Expected Life of Option in Years	5 years
Expected Dividend Yield	2.20%
Expected Stock Volatility	28.44%
Estimated Fair Value of Stock Option (in dollars per share)	$ 15.87
January 3, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free Interest Rate	4%
Expected Life of Option in Years	5 years
Expected Dividend Yield	2.60%
Expected Stock Volatility	29.58%
Estimated Fair Value of Stock Option (in dollars per share)	$ 11.62
January 3, 2022
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	1.70%
Expected Stock Volatility	28.52%
Estimated Fair Value of Stock Option (in dollars per share)	$ 13.68
January 4, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free Interest Rate	0.40%
Expected Life of Option in Years	5 years
Expected Dividend Yield	2%
Expected Stock Volatility	29.17%
Estimated Fair Value of Stock Option (in dollars per share)	$ 9.57
January 2, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free Interest Rate	1.70%
Expected Life of Option in Years	5 years
Expected Dividend Yield	2.40%
Expected Stock Volatility	25.70%
Estimated Fair Value of Stock Option (in dollars per share)	$ 6.81
January 2, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free Interest Rate	2.50%
Expected Life of Option in Years	5 years
Expected Dividend Yield	2.90%
Expected Stock Volatility	23.96%
Estimated Fair Value of Stock Option (in dollars per share)	$ 4.40
January 2, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free Interest Rate	2.20%
Expected Life of Option in Years	5 years
Expected Dividend Yield	2.30%
Expected Stock Volatility	23.45%
Estimated Fair Value of Stock Option (in dollars per share)	$ 5.02
January 3, 2017
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	2.60%
Expected Stock Volatility	24.49%
Estimated Fair Value of Stock Option (in dollars per share)	$ 4.20
April 19, 2016
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	2.60%
Expected Stock Volatility	26.34%
Estimated Fair Value of Stock Option (in dollars per share)	$ 4.09

Stockholder's Equity - Summary

Stockholder's Equity - Summary of Stock Option Plan Activity (Details) - $ / shares	12 Months Ended			104 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2024
Options Outstanding
Granted (in shares)				9,869,384
Exercised (in shares)	(1,338,085)	(1,170,693)	(346,992)
Outstanding as of End of Period (in shares)	4,227,927			4,227,927
Options Exercisable (in shares)	1,780,331			1,780,331
Stock Option Plan
Options Outstanding
Outstanding as of Beginning of Period (in shares)	4,974,078	5,374,736
Granted (in shares)	814,912	1,071,943
Exercised (in shares)	(1,338,085)	(1,170,693)
Cancelled/forfeited (in shares)	(222,978)	(301,908)
Outstanding as of End of Period (in shares)	4,227,927	4,974,078	5,374,736	4,227,927
Options Exercisable (in shares)	1,780,331	2,197,022		1,780,331
Exercise Price
Outstanding as of Beginning of Period (in dollars per share)	$ 38.70	$ 34.37
Granted (in dollars per share)	64	48
Exercised (in dollars per share)	29.72	25.69
Cancelled/forfeited (in dollars per share)	48.12	45
Outstanding as of End of Period (in dollars per share)	45.93	38.70	$ 34.37	$ 45.93
Exercisable (in dollars per share)	$ 38.08	$ 30.88		$ 38.08
Remaining Life
Outstanding	6 years 3 months 10 days	5 years 11 months 26 days	5 years 7 months 28 days
Granted	9 years	9 years
Exercisable	4 years 11 months 8 days	4 years 6 months 14 days

Stockholders' Equity - Shares O

Stockholders' Equity - Shares Outstanding (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Shares Outstanding [Roll Forward]
Balance at beginning of year (in shares)	571,982,367	570,811,674	575,464,682
Stock options exercised (in shares)	1,338,085	1,170,693	346,992
Purchases of common stock (in shares)	0	0	(5,000,000)
Balance at end of year (in shares)	573,320,452	571,982,367	570,811,674

Stockholders' Equity - Reconcil

Stockholders' Equity - Reconciliation of Denominators Used in Computation of Basic and Diluted Net Income Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Stockholders' Equity Note [Abstract]
Basic weighted average shares outstanding (in shares)	572,708,065	571,271,846	573,777,790
Weighted shares assumed upon exercise of stock options (in shares)	1,574,146	1,736,762	1,845,324
Diluted weighted average shares outstanding (in shares)	574,282,211	573,008,608	575,623,114

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Anti-Dilutive Options Excluded (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Stockholders' Equity Note [Abstract]
Options to purchase shares of common stock (in shares)	913,296	1,568,460	1,335,898
Weighted average exercise prices of options (in dollars per share)	$ 63.57	$ 53.80	$ 55.25

Retirement Savings Plan - Narra

Retirement Savings Plan - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Expense related to contribution to employees' retirement accounts	$ 20.8	$ 23.1	$ 22.1

Income Taxes - Income Before In

Income Taxes - Income Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Domestic	$ 1,390.6	$ 1,392.7	$ 1,335.7
Foreign	117.5	129.3	104.3
Income before income taxes	$ 1,508.1	$ 1,522	$ 1,440

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current
Federal	$ 265.6	$ 273.3	$ 267.6
State	56.1	59.6	58
Foreign	39.6	44.9	35
Income tax expense	361.3	377.8	360.6
Deferred
Federal	(3)	(9.2)	(5)
State	(0.1)	(1.3)	(1.1)
Foreign	(0.7)	(0.3)	(1.4)
Income tax expense	(3.8)	(10.8)	(7.5)
Total
Federal	262.6	264.1	262.6
State	56	58.3	56.9
Foreign	38.9	44.6	33.6
Effective income tax rate	$ 357.5	$ 367	$ 353.1

Income Taxes - Difference in In

Income Taxes - Difference in Income Tax Expense and Expected Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Amount
United States federal statutory income tax	$ 316.7	$ 319.6	$ 302.4
State income taxes, net of federal benefit	43.3	45.1	45.6
Other, net	(2.5)	2.3	5.1
Effective income tax rate	$ 357.5	$ 367	$ 353.1
Percent
United States federal statutory income tax, percent	21%	21%	21%
State income taxes, net of federal benefit, percent	2.90%	3%	3.20%
Other, net, percent	(0.20%)	0.10%	0.30%
Effective income tax rate	23.70%	24.10%	24.50%

Income Taxes - Summary of Tempo

Income Taxes - Summary of Temporary Differences That Give Rise to Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Deferred income tax assets:
Inventory costing and valuation methods	$ 5.9	$ 5.6
Insurance reserves	5.5	8.3
Foreign net operating loss and credit carryforwards	2.4	3
Stock-based compensation	3.7	3.8
Operating lease liabilities	72.2	69.5
Section 174 capitalization	11.1	7.4
Other, deferred tax assets	8.3	9.4
Total deferred income tax assets	109.1	107
Less: Valuation allowances	(1.8)	(2.2)
Total net deferred income tax assets	107.3	104.8
Deferred income tax liabilities:
Property and equipment	(90.9)	(95.4)
Operating lease ROU assets	(70.6)	(68.3)
Prepaid expenses	(4.6)	(3.5)
Other, deferred tax liabilities	(0.2)	(0.4)
Total deferred income tax liabilities	(166.3)	(167.6)
Net deferred income tax liabilities	$ (59)	$ (62.8)

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of the Beginning and Ending Amount of Total Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year:	$ 10.2	$ 10.1
Increase related to prior year tax positions	1.1	5.6
Increase related to current year tax positions	0.4	0.6
Decrease related to statute of limitation lapses	(1.8)	(6.1)
Balance at end of year:	$ 9.9	$ 10.2

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2025
Income Tax Disclosure [Abstract]
Unrecognized tax benefits, income tax penalties and interest expense	$ 4.2	$ 3.8
Income Tax Contingency [Line Items]
Unrecognized tax benefits that would favorably impact effective tax rate	9.1	$ 9.2
Undistributed income from foreign subsidiaries	$ 539.6
Forecast
Income Tax Contingency [Line Items]
Decrease in unrecognized tax benefits, reasonably possible			$ 1.9

Operating Leases - Additional I

Operating Leases - Additional Information (Details) $ in Millions	Dec. 31, 2024 USD ($)
Leases [Abstract]
Aggregate residual value guarantee of pick-up leases	$ 127.3

Operating leases - Cost Compone

Operating leases - Cost Components of Operating Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 123.1	$ 117.6	$ 111.5
Variable lease cost	15.4	12.1	11.2
Short-term lease cost	32.6	23.7	26.6
Total	171.1	153.4	149.3
Leased Facilities and Equipment
Lessee, Lease, Description [Line Items]
Operating lease cost	101.1	99.4	96.8
Variable lease cost	14	10.5	9.7
Short-term lease cost	0	0	0
Total	115.1	109.9	106.5
Leased Vehicles
Lessee, Lease, Description [Line Items]
Operating lease cost	22	18.2	14.7
Variable lease cost	1.4	1.6	1.5
Short-term lease cost	32.6	23.7	26.6
Total	$ 56	$ 43.5	$ 42.8

Operating Leases - Maturities o

Operating Leases - Maturities of Lease Liabilities (Details) $ in Millions	Dec. 31, 2024 USD ($)
Lessee, Lease, Description [Line Items]
2025	$ 104
2026	78.4
2027	53.7
2028	35.1
2029	18.8
2030 and thereafter	19.9
Total lease payments	309.9
Less: Imputed interest	(24.5)
Present value of lease liabilities	285.4
Leased Facilities and Equipment
Lessee, Lease, Description [Line Items]
2025	89
2026	66.7
2027	45.8
2028	29.7
2029	16.1
2030 and thereafter	19
Total lease payments	266.3
Less: Imputed interest	(21.1)
Present value of lease liabilities	245.2
Leased Vehicles
Lessee, Lease, Description [Line Items]
2025	15
2026	11.7
2027	7.9
2028	5.4
2029	2.7
2030 and thereafter	0.9
Total lease payments	43.6
Less: Imputed interest	(3.4)
Present value of lease liabilities	$ 40.2

Operating Leases - Weighted Ave

Operating Leases - Weighted Average Lease Term and Discount Rates (Details)	Dec. 31, 2024	Dec. 31, 2023
Leased Facilities and Equipment
Lessee, Lease, Description [Line Items]
Weighted average remaining lease term (years)	3 years 11 months 23 days	3 years 9 months 3 days
Weighted average discount rate	3.92%	3.07%
Leased Vehicles
Lessee, Lease, Description [Line Items]
Weighted average remaining lease term (years)	3 years 7 months 13 days	3 years 9 months 7 days
Weighted average discount rate	4.46%	4.03%

Operating Leases - Supplemental

Operating Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflow from operating leases	$ 119	$ 115.7	$ 110.9
Leased assets obtained in exchange for new operating lease liabilities	$ 95	$ 116.2	$ 89.4

Debt Commitments - Debt Obligat

Debt Commitments - Debt Obligations and Letters of Credit Outstanding (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total	$ 200	$ 260
Less: Current portion of debt	(75)	(60)
Long-term debt	$ 125	200
Credit Facility | Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Average Interest Rate, weighted per annum	5.36%
Total	$ 0	0
Credit Facility | Letter of Credit Subfacility
Debt Instrument [Line Items]
Outstanding letters of credit under unsecured revolving credit facility - contingent obligation	31.2	32.7
Senior Unsecured Promissory Notes
Debt Instrument [Line Items]
Total	$ 200
Senior Unsecured Promissory Notes | Senior unsecured promissory notes payable, Series C
Debt Instrument [Line Items]
Average Interest Rate, fixed per annum	3.22%
Total	$ 0	60
Senior Unsecured Promissory Notes | Senior unsecured promissory notes payable, Series D
Debt Instrument [Line Items]
Average Interest Rate, fixed per annum	2.66%
Total	$ 75	75
Senior Unsecured Promissory Notes | Senior unsecured promissory notes payable, Series E
Debt Instrument [Line Items]
Average Interest Rate, fixed per annum	2.72%
Total	$ 50	50
Senior Unsecured Promissory Notes | Senior unsecured promissory notes payable, Series G
Debt Instrument [Line Items]
Average Interest Rate, fixed per annum	2.13%
Total	$ 25	25
Senior Unsecured Promissory Notes | Senior unsecured promissory notes payable, Series H
Debt Instrument [Line Items]
Average Interest Rate, fixed per annum	2.50%
Total	$ 50	$ 50

Debt Commitments - Unsecured Re

Debt Commitments - Unsecured Revolving Credit Facility (Details) - Credit Facility	12 Months Ended
	Dec. 31, 2024 USD ($)
Debt Instrument [Line Items]
Per annum interest rate over Daily Simple SOFR, spread adjustment	0.10%
Per annum interest rate over Daily Simple SOFR	0.95%
Minimum
Debt Instrument [Line Items]
Percentage fee paid for unused portion of credit facility	0.10%
Maximum
Debt Instrument [Line Items]
Percentage fee paid for unused portion of credit facility	0.125%
Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 835,000,000
Credit facility, uncommitted accordion option, increase limit	365,000,000
Credit facility, uncommitted accordion option, higher borrowing capacity option	1,200,000,000
Letter of Credit Subfacility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 55,000,000

Debt Commitments - Senior Unsec

Debt Commitments - Senior Unsecured Promissory Notes Payable (Details) - Senior Unsecured Promissory Notes	Dec. 31, 2024 USD ($)
Debt Instrument [Line Items]
Debt issuance, aggregate principal amount	$ 200,000,000
Maximum aggregate borrowing capacity	$ 900,000,000

Debt Commitments - Debt Maturit

Debt Commitments - Debt Maturity (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total	$ 200	$ 260
Senior Unsecured Promissory Notes
Debt Instrument [Line Items]
2025	75
2026	25
2027	50
2028	0
2029	0
2030 and thereafter	50
Total	$ 200

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details) - segment	3 Months Ended	9 Months Ended
	Dec. 31, 2024	Sep. 30, 2024
Segment Reporting [Abstract]
Number of operating segments	1	1

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Reportable Segment Net Sales from External Customers to Consolidated Net Sales (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Net sales	$ 7,546	$ 7,346.7	$ 6,980.6
U.S. reportable segment
Segment Reporting Information [Line Items]
Net sales	6,273.1	6,139.8	5,867.1
Other operating segment
Segment Reporting Information [Line Items]
Net sales	$ 1,272.9	$ 1,206.9	$ 1,113.5

Segment Reporting - Reconcili_2

Segment Reporting - Reconciliation of Reportable Segment ROA Pre-Tax Profit to Consolidated Income before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Income before income taxes	$ 1,508.1	$ 1,522	$ 1,440
U.S. reportable segment
Segment Reporting Information [Line Items]
U.S. ROA pre-tax profit	1,303.2	1,318.2	1,254.2
Other operating segment
Segment Reporting Information [Line Items]
Other operating segment pre-tax profit	$ 204.9	$ 203.8	$ 185.8

Segment Reporting - Reconcili_3

Segment Reporting - Reconciliation of Reportable Segment ROA Assets to Consolidated Total Assets (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Other current assets	$ 580	$ 489.4
Property and equipment	915.6	876.1
Intangibles and other assets	148.4	159.1
Operating lease right-of-use assets	279.2	270.2
Total assets	4,698	4,462.9
U.S. reportable segment
Segment Reporting Information [Line Items]
U.S. ROA assets	2,189.6	2,103
Other operating segment
Segment Reporting Information [Line Items]
Other operating segment ROA assets	$ 585.2	$ 565.1

Segment Reporting - Other Segme

Segment Reporting - Other Segment Items (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Depreciation and amortization expense	$ 175.4	$ 177.3	$ 176.6
U.S. reportable segment | Operating Segment
Segment Reporting Information [Line Items]
U.S. ROA pre-tax profit depreciation and amortization expense	188.1	168.1	156.4
Other operating segment | Operating Segment
Segment Reporting Information [Line Items]
Other operating segment ROA pre-tax profit depreciation and amortization expense	27.4	24.7	23
Other reconciling items
Segment Reporting Information [Line Items]
Other reconciling items	$ (40.1)	$ (15.5)	$ (2.8)

Schedule II-Valuation and Qua_2

Schedule II-Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Allowance For Credit Losses
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 6.4	$ 8.3	$ 12
"Additions/ (Reductions)" to Costs and Expenses	1.3	2.2	(1.8)
"Other" Additions (Deductions)	0	0	0
"Less" Deductions	2.5	4.1	1.9
Balance at End of Year	5.2	6.4	8.3
Insurance Reserves
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	40.1	40.4	35.7
"Additions/ (Reductions)" to Costs and Expenses	102.4	86.2	78.2
"Other" Additions (Deductions)	0	0	0
"Less" Deductions	102.2	86.5	73.5
Balance at End of Year	$ 40.3	$ 40.1	$ 40.4