| Statement Of Financial Position Classified (USD $) | ||
| In Thousands | Sep. 30, 2009
| Dec. 31, 2008
|
| Current assets: | ||
| Cash and cash equivalents | $193,744 | $85,892 |
| Marketable securities | 1,295 | 851 |
| Trade accounts receivable, net of allowance for doubtful accounts of $4,087 and $2,660, respectively | 239,323 | 244,940 |
| Inventories | 498,106 | 564,247 |
| Deferred income tax assets | 18,996 | 15,909 |
| Other current assets | 46,626 | 63,564 |
| Total current assets | 998,090 | 975,403 |
| Marketable securities | 5,551 | 846 |
| Property and equipment, less accumulated depreciation | 330,437 | 324,182 |
| Other assets, less accumulated amortization | 3,686 | 3,718 |
| Total assets | 1,337,764 | 1,304,149 |
| Current liabilities: | ||
| Accounts payable | 61,352 | 63,949 |
| Accrued expenses | 72,217 | 83,545 |
| Income taxes payable | 5,175 | 499 |
| Total current liabilities | 138,744 | 147,993 |
| Deferred income tax liabilities | 13,880 | 13,897 |
| Stockholders' equity: | ||
| Preferred stock, 5,000,000 shares authorized | 0 | 0 |
| Common stock, 200,000,000 shares authorized, 148,530,712 shares issued and outstanding | 1,485 | 1,485 |
| Additional paid-in capital | 4,409 | 1,559 |
| Retained earnings | 1,167,123 | 1,134,244 |
| Accumulated other comprehensive income | 12,123 | 4,971 |
| Total stockholders' equity | 1,185,140 | 1,142,259 |
| Total liabilities and stockholders' equity | $1,337,764 | $1,304,149 |
| Statement Of Financial Position Classified (Parenthetical) (USD $) | ||
| In Thousands, except Share data | Sep. 30, 2009
| Dec. 31, 2008
|
| Trade accounts receivable, allowance for doubtful accounts | $4,087 | $2,660 |
| Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
| Common stock, shares authorized | 200,000,000 | 200,000,000 |
| Common stock, shares issued | 148,530,712 | 148,530,712 |
| Common stock, shares outstanding | 148,530,712 | 148,530,712 |
| Statement Of Income (USD $) | ||||
| In Thousands, except Per Share data | 3 Months Ended
Sep. 30, 2009 | 3 Months Ended
Sep. 30, 2008 | 9 Months Ended
Sep. 30, 2009 | 9 Months Ended
Sep. 30, 2008 |
| Net sales | $489,339 | $625,037 | $1,453,580 | $1,795,466 |
| Cost of sales | 244,772 | 294,154 | 707,860 | 850,564 |
| Gross profit | 244,567 | 330,883 | 745,720 | 944,902 |
| Operating and administrative expenses | 168,119 | 213,310 | 520,171 | 593,771 |
| Gain (loss) on sale of property and equipment | (38) | 46 | (790) | (199) |
| Operating income | 76,410 | 117,619 | 224,759 | 350,932 |
| Interest income | 592 | 167 | 1,312 | 635 |
| Earnings before income taxes | 77,002 | 117,786 | 226,071 | 351,567 |
| Income tax expense | 29,413 | 44,877 | 86,250 | 134,398 |
| Net earnings | $47,589 | $72,909 | $139,821 | $217,169 |
| Basic and diluted net earnings per share | 0.32 | 0.49 | 0.94 | 1.46 |
| Basic and diluted weighted average shares outstanding | 148,531 | 148,573 | 148,531 | 148,933 |
| Statement Of Cash Flows Indirect (USD $) | ||
| In Thousands | 9 Months Ended
Sep. 30, 2009 | 9 Months Ended
Sep. 30, 2008 |
| Cash flows from operating activities: | ||
| Net earnings | $139,821 | $217,169 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
| Depreciation of property and equipment | 30,147 | 29,153 |
| Loss on sale of property and equipment | 790 | 199 |
| Bad debt expense | 7,300 | 5,527 |
| Deferred income taxes | (3,104) | (1,318) |
| Stock based compensation | 2,850 | 2,313 |
| Amortization of non-compete agreement | 50 | 50 |
| Changes in operating assets and liabilities: | ||
| Trade accounts receivable | (1,683) | (78,380) |
| Inventories | 66,141 | (33,051) |
| Other current assets | 16,938 | 1,915 |
| Accounts payable | (3,925) | 19,346 |
| Accrued expenses | (11,328) | 14,619 |
| Income taxes payable | 4,676 | 250 |
| Other | 4,511 | (4,062) |
| Net cash provided by operating activities | 253,184 | 173,730 |
| Cash flows from investing activities: | ||
| Purchase of property and equipment | (40,128) | (79,006) |
| Proceeds from sale of property and equipment | 4,264 | 3,624 |
| Net (increase) decrease in marketable securities | (5,149) | 418 |
| Net increase in other assets | (18) | (75) |
| Net cash used in investing activities | (41,031) | (75,039) |
| Cash flows from financing activities: | ||
| Purchase of common stock | 0 | (25,955) |
| Payment of dividends | (106,943) | (77,371) |
| Net cash used in financing activities | (106,943) | (103,326) |
| Effect of exchange rate changes on cash | 2,642 | (478) |
| Net increase (decrease) in cash and cash equivalents | 107,852 | (5,113) |
| Cash and cash equivalents at beginning of period | 85,892 | 57,220 |
| Cash and cash equivalents at end of period | 193,744 | 52,107 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid during each period for: Income taxes | $81,574 | $134,148 |
| (1) Basis of Presentation | |
| 9 Months Ended
Sep. 30, 2009 USD / shares | |
| Notes to Financial Statements [Abstract] | |
| (1) Basis of Presentation | (1) Basis of Presentation The accompanying unaudited consolidated financial statements of Fastenal Company and subsidiaries (collectively referred to as the Company, Fastenal, or by terms such as we, our, or us) have been prepared in accordance with United States generally accepted accounting principles for interim financial information. They do not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as described herein, there has been no material change in the information disclosed in the notes to consolidated financial statements included in our consolidated financial statements as of and for the year ended December31, 2008. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. |
| (2) Stockholders' Equity and Stock-Based Compensation | |
| 1/1/2009 - 9/30/2009
USD / shares | |
| Notes to Financial Statements [Abstract] | |
| (2) Stockholders' Equity and Stock-Based Compensation | (2) Stockholders Equity and Stock-Based Compensation During April 2008 and April 2007, the Compensation Committee of our Board of Directors approved the grant under our employee stock option plan, effective at the close of business that day, of options to purchase approximately 275thousand shares and 2.2million shares, respectively, of our common stock. On April21, 2009, the Compensation Committee of our Board of Directors approved the grant under our employee stock option plan, effective at the close of business that day, of options to purchase approximately 395thousand shares of our common stock at a strike price of $54.00 per share. The closing stock price on the date of grant was $35.22 per share. All of the options noted above vest and become exercisable over a period of up to eight years. Each option will terminate, to the extent not previously exercised, 13 months after the end of the relevant vesting period. No options under any of theses grants were vested as of September30, 2009. Compensation expense equal to the grant date fair value will be recognized for all of these awards over the vesting period. The stock-based compensation expense for the nine month periods ended September30, 2009 and 2008 was $2,850 and $2,313, respectively. Unrecognized compensation expense related to outstanding stock options as of September30, 2009 was $19,152 and is expected to be recognized over a weighted average period of 6.56 years. Any future changes in estimated forefeitures will impact this amount. 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 noted in the following table. The expected life is the most significant assumption as it determines the period for which the risk-free interest rate, volatility, and dividend yield must be applied. The expected life is the average length of time over which the employee groups will exercise their options, which is based on historical experience with similar grants. Expected volatilities are based on the movement of the Companys stock over the most recent historical period equivalent to the expected life of the options. The risk-free interest rate is based on the U.S. Treasury rate over the expected life at the time of grant. The dividend yield is estimated over the expected life based on our current dividend payout, historical dividends paid, and expected future cash dividends. The following table illustrates the share price information and assumptions used to determine fair value: Options Granted April 2009 April 2008 April 2007 Strike Price $ 54.00 $ 54.00 $ 45.00 Closing market price on date of grant $ 35.22 $ 48.70 $ 40.30 Weighted-average expected life of option in years 5.0 5.0 4.9 Weighted-average volatility 38.8 % 30.7 % 31.6 % Risk-free interest rate 1.9 % 2.7 % 4.6 % Expected dividend yield 1.0 % 1.0 % 1.0 % Weighted-average grant date fair value of stock option $ 7.27 $ 15.50 $ 11.36 The fo |
| (3) Comprehensive Income | |
| 9 Months Ended
Sep. 30, 2009 USD / shares | |
| Notes to Financial Statements [Abstract] | |
| (3) Comprehensive Income | (3) Comprehensive Income Comprehensive income and the components of other comprehensive income were as follows: Nine months ended September30, Threemonthsended September30, 2009 2008 2009 2008 Net earnings $ 139,821 217,169 47,589 72,909 Translation adjustment 7,148 (4,547 ) 4,713 (3,571 ) Change in marketable securities 4 9 1 2 Total comprehensive income $ 146,973 212,631 52,303 69,340 |
| (4) Unrealized Investment Gains and Losses | |
| 9 Months Ended
Sep. 30, 2009 USD / shares | |
| Notes to Financial Statements [Abstract] | |
| (4) Unrealized Investment Gains and Losses | (4) Unrealized Investment Gains and Losses The following tables show the fair value of our investments as of September30, 2009 and 2008 and the gross unrealized gains and losses of those investments for the nine month period ended September30, 2009 and 2008. This information is aggregated by the investment category and maturity of the investment. September30, 2009 Current Non-Current Total Description Fair value Unrealized gain (loss) Fair value Unrealized gain (loss) Fair value Unrealized gain (loss) State and municipal bonds $ 1,295 4 5,551 $ 6,846 4 Certificates of deposit or money market Total $ 1,295 4 5,551 $ 6,846 4 September30, 2008 Current Non-Current Total Description Fair value Unrealized gain (loss) Fair value Unrealized gain (loss) Fair value Unrealized gain (loss) State and municipal bonds $ 213 1,463 9 $ 1,676 9 Certificates of deposit or money market 15 15 Total $ 228 1,463 9 $ 1,691 9 As was disclosed in our 2008 Annual Report on Form 10-K, we classify these securities as available-for-sale. Available-for-sale securities are recorded at fair value based on current market value. Unrealized holding gains and losses on available-for-sale securities are excluded from earnings, but are included in comprehensive income, and are reported as a separate component of stockholders equity until realized. |
| (5) Operating Leases with Guarantees | |
| 9 Months Ended
Sep. 30, 2009 USD / shares | |
| Notes to Financial Statements [Abstract] | |
| (5) Operating Leases with Guarantees | (5) Operating Leases with Guarantees We lease certain pick-up trucks under operating leases. These leases typically have a 72-month term and include an early buy out clause we generally exercise, thereby giving the leases an effective term of 15-20 months. Certain operating leases for vehicles contain residual value guarantee provisions, which could become due at the expiration of the operating lease agreement if the fair value of the leased vehicles is less than the guaranteed residual value. The aggregate residual value at lease expiration, of the leases that contain residual value guarantees, is approximately $14,637 at September30, 2009. We believe the likelihood of funding the guarantee obligation under any provision of the operating lease agreements is remote, except for a $2,090 loss on disposal reserve provided at September30, 2009. |
| (6) Income Taxes | |
| 9 Months Ended
Sep. 30, 2009 USD / shares | |
| Notes to Financial Statements [Abstract] | |
| (6) Income Taxes | (6) Income Taxes Fastenal, or one of its subsidiaries, files income tax returns in the United States Federal jurisdiction, numerous states, and various local and foreign jurisdictions. With limited exceptions, we are no longer subject to income tax examinations by taxing authorities for taxable years before 2006, in the case of United States Federal and non-United States examinations, and 2003 in the case of state and local examinations. As of September30, 2009 and 2008, the company had $7,253 and $5,143, respectively, of liabilities recorded related to unrecognized tax benefits. Included in this liability for unrecognized tax benefits is an immaterial amount for interest and penalties, both of which we classify as a component of income tax expense. The company does not anticipate that total unrecognized tax benefits will change significantly during the next 12 months. |
| (7) Subsequent Events | |
| 9 Months Ended
Sep. 30, 2009 USD / shares | |
| Notes to Financial Statements [Abstract] | |
| (7) Subsequent Events | (7) Subsequent Events In May2009, the FASB issued Accounting Standards Codification (ASC) 855-10-05, Subsequent Events.This Statement sets forth: (i)the period after the balance sheet date during which management of a reporting entity should evaluate events or transactions that may occur for potential recognition or disclosure in the financial statements; (ii)the circumstances under which an entity should recognize events or transactions occurring after the balance sheet date in its financial statements; and (iii)the disclosures that an entity should make about events or transactions that occurred after the balance sheet date. We adopted this Statement in the second quarter ended June30, 2009, as required. This Statement did not impact our consolidated financial results. The Company has evaluated its subsequent events through October23, 2009, the filing date of the Companys Quarterly Report on Form 10-Q for the period ended September30, 2009. |
| Document Information | |
| 9 Months Ended
Sep. 30, 2009 USD / shares | |
| Document Information [Text Block] | |
| Document Type | 10-Q |
| Amendment Flag | false |
| Document Period End Date | 2009-09-30 |
| Entity Information (USD $) | ||
| 9 Months Ended
Sep. 30, 2009 | Oct. 20, 2009
| |
| Entity [Text Block] | ||
| Trading Symbol | FAST | |
| Entity Registrant Name | FASTENAL CO | |
| Entity Central Index Key | 0000815556 | |
| Current Fiscal Year End Date | --12-31 | |
| Entity Filer Category | Large Accelerated Filer | |
| Entity Common Stock, Shares Outstanding | 148,330,712 |
