$FAST
FASTENAL CO

2020 Q2 Form 10-Q Financial Statement

#000081555620000056 Filed on July 17, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q4 2019 Q2
Revenue $1.509B $1.277B $1.368B
YoY Change 10.27% 3.68% 7.93%
Cost Of Revenue $837.4M $678.5M $727.2M
YoY Change 15.15% 5.39% 11.84%
Gross Profit $671.6M $598.4M $641.2M
YoY Change 4.74% 1.8% 3.8%
Gross Profit Margin 44.51% 46.86% 46.86%
Selling, General & Admin $355.6M $359.9M $366.7M
YoY Change -3.03% 1.55% 4.98%
% of Gross Profit 52.95% 60.14% 57.19%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $40.70M $37.90M $37.10M
YoY Change 9.7% 5.57% 8.8%
% of Gross Profit 6.06% 6.33% 5.79%
Operating Expenses $355.6M $359.9M $366.7M
YoY Change -3.03% 1.55% 4.98%
Operating Profit $316.0M $238.5M $275.0M
YoY Change 14.91% 2.19% 2.23%
Interest Expense $2.400M -$2.500M $3.700M
YoY Change -35.14% -30.56% 15.63%
% of Operating Profit 0.76% -1.05% 1.35%
Other Income/Expense, Net
YoY Change
Pretax Income $313.7M $236.4M $271.4M
YoY Change 15.59% 2.87% 2.07%
Income Tax $74.80M $57.70M $66.80M
% Of Pretax Income 23.84% 24.41% 24.61%
Net Earnings $238.9M $178.7M $204.6M
YoY Change 16.76% 5.86% -3.13%
Net Earnings / Revenue 15.83% 13.99% 14.95%
Basic Earnings Per Share $0.42 $0.31 $0.36
Diluted Earnings Per Share $0.42 $0.31 $0.36
COMMON SHARES
Basic Shares Outstanding 573.2M shares 573.5M shares 573.2M shares
Diluted Shares Outstanding 575.0M shares 574.6M shares

Balance Sheet

Concept 2020 Q2 2019 Q4 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $201.5M $174.9M $175.0M
YoY Change 15.14% 4.61% 29.15%
Cash & Equivalents $201.5M $174.9M $175.0M
Short-Term Investments
Other Short-Term Assets $121.8M $157.4M $123.8M
YoY Change -1.62% 7.07% 14.52%
Inventory $1.402B $1.366B $1.346B
Prepaid Expenses
Receivables $881.5M $741.8M $819.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.606B $2.457B $2.468B
YoY Change 5.59% 6.09% 15.3%
LONG-TERM ASSETS
Property, Plant & Equipment $1.030B $1.023B $975.1M
YoY Change 5.6% 10.64% 10.79%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $196.4M $76.30M $78.50M
YoY Change 150.19% -5.22% -1.01%
Total Long-Term Assets $1.479B $1.343B $1.288B
YoY Change 14.81% 33.56% 34.26%
TOTAL ASSETS
Total Short-Term Assets $2.606B $2.457B $2.468B
Total Long-Term Assets $1.479B $1.343B $1.288B
Total Assets $4.085B $3.800B $3.756B
YoY Change 8.75% 14.4% 21.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $194.1M $192.8M $203.8M
YoY Change -4.76% -0.41% 18.42%
Accrued Expenses $238.2M $251.5M $226.0M
YoY Change 5.4% 4.44% 10.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $3.000M $3.000M
YoY Change -100.0% 0.0% 20.0%
Total Short-Term Liabilities $631.3M $544.7M $527.9M
YoY Change 19.59% 24.53% 38.56%
LONG-TERM LIABILITIES
Long-Term Debt $405.0M $342.0M $497.0M
YoY Change -18.51% -31.19% 17.63%
Other Long-Term Liabilities $7.600M $0.00 $141.1M
YoY Change -94.61%
Total Long-Term Liabilities $412.6M $342.0M $497.0M
YoY Change -16.98% -31.19% 17.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $631.3M $544.7M $527.9M
Total Long-Term Liabilities $412.6M $342.0M $497.0M
Total Liabilities $1.044B $886.7M $1.025B
YoY Change 1.85% -5.1% 27.55%
SHAREHOLDERS EQUITY
Retained Earnings $2.789B $2.634B $2.494B
YoY Change 11.8% 12.48% 10.4%
Common Stock $47.30M $70.10M $48.90M
YoY Change -3.27% 1088.14% 1381.82%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.783B $2.666B $2.504B
YoY Change
Total Liabilities & Shareholders Equity $4.085B $3.800B $3.756B
YoY Change 8.75% 14.4% 21.17%

Cashflow Statement

Concept 2020 Q2 2019 Q4 2019 Q2
OPERATING ACTIVITIES
Net Income $238.9M $178.7M $204.6M
YoY Change 16.76% 5.86% -3.13%
Depreciation, Depletion And Amortization $40.70M $37.90M $37.10M
YoY Change 9.7% 5.57% 8.8%
Cash From Operating Activities $250.7M $252.4M $128.1M
YoY Change 95.71% 41.8% -15.67%
INVESTING ACTIVITIES
Capital Expenditures -$41.20M -$62.10M -$68.70M
YoY Change -40.03% -21.59% 136.08%
Acquisitions
YoY Change
Other Investing Activities $4.200M $1.500M $1.800M
YoY Change 133.33% -64.29% -56.1%
Cash From Investing Activities -$37.00M -$60.60M -$66.90M
YoY Change -44.69% -19.2% 167.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -174.3M -210.8M -71.10M
YoY Change 145.15% 224.81% -43.07%
NET CHANGE
Cash From Operating Activities 250.7M 252.4M 128.1M
Cash From Investing Activities -37.00M -60.60M -66.90M
Cash From Financing Activities -174.3M -210.8M -71.10M
Net Change In Cash 39.40M -19.00M -9.900M
YoY Change -497.98% -149.87% -595.0%
FREE CASH FLOW
Cash From Operating Activities $250.7M $252.4M $128.1M
Capital Expenditures -$41.20M -$62.10M -$68.70M
Free Cash Flow $291.9M $314.5M $196.8M
YoY Change 48.32% 22.28% 8.73%

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3700000 USD
us-gaap Amortization Of Intangible Assets
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2000000.0 USD
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147200000 USD
us-gaap Increase Decrease In Accounts Receivable
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106400000 USD
us-gaap Increase Decrease In Inventories
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40800000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
64300000 USD
us-gaap Increase Decrease In Other Current Assets
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-35600000 USD
us-gaap Increase Decrease In Other Current Assets
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us-gaap Increase Decrease In Accounts Payable
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1300000 USD
us-gaap Increase Decrease In Accounts Payable
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10200000 USD
us-gaap Increase Decrease In Accrued Liabilities
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-13300000 USD
us-gaap Increase Decrease In Accrued Liabilities
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-14800000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
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119000000.0 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
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5000000.0 USD
us-gaap Increase Decrease In Other Operating Capital Net
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-8700000 USD
us-gaap Increase Decrease In Other Operating Capital Net
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us-gaap Net Cash Provided By Used In Operating Activities
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491800000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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90000000.0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
123100000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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5100000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3500000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
125000000.0 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-208700000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-119600000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
870000000.0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
525000000.0 USD
us-gaap Repayments Of Long Term Debt
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810000000.0 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
525000000.0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
26300000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
40100000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
52000000.0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments Of Dividends
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286800000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
246100000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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-252500000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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400000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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26600000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7800000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
174900000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
167200000 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
201500000 USD
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
175000000.0 USD
us-gaap Interest Paid Net
InterestPaidNet
4100000 USD
us-gaap Interest Paid Net
InterestPaidNet
7800000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
21300000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
122300000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
33700000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
57400000 USD
CY2019Q2 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
2
CY2019Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2019Q2 us-gaap Common Stock Shares Issued
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1 shares
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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2876000000.0 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2677700000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1509000000.0 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1368400000 USD
CY2020Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.250
CY2019Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.215
CY2020Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.250
CY2019Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.215
CY2019Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.220
CY2019Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.220
CY2019 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.870
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
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CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6568808 shares
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2319023 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P8Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
us-gaap Share Based Compensation
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2900000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2900000 USD
CY2020Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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15100000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P4Y2M1D
us-gaap Weighted Average Number Of Shares Outstanding Basic
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573550730 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
572669693 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
573197303 shares
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
573159138 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1577540 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1105366 shares
CY2020Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1754697 shares
CY2019Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1392211 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
575128270 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
573775059 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
574952000 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
574551349 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
893428 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
450960 shares
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
895566 shares
CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
fast Antidilutive Securities Excluded From Computation Of Earnings Per Share Weighted Average Exercise Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareWeightedAverageExercisePrice
38.00
fast Antidilutive Securities Excluded From Computation Of Earnings Per Share Weighted Average Exercise Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareWeightedAverageExercisePrice
27.53
CY2020Q2 fast Antidilutive Securities Excluded From Computation Of Earnings Per Share Weighted Average Exercise Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareWeightedAverageExercisePrice
38.00
CY2019Q2 fast Antidilutive Securities Excluded From Computation Of Earnings Per Share Weighted Average Exercise Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareWeightedAverageExercisePrice
0
us-gaap Unrecognized Tax Benefits Period Increase Decrease
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0 USD
CY2020Q2 fast Deferred Tax Payments Liability Cares Act
DeferredTaxPaymentsLiabilityCARESAct
111500000 USD
CY2020Q2 fast Deferred Federal And State Income Tax Payments Liability Cares Act
DeferredFederalAndStateIncomeTaxPaymentsLiabilityCARESAct
103900000 USD
CY2020Q2 us-gaap Residual Value Of Leased Asset
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93000000.0 USD
CY2020Q2 us-gaap Long Term Debt
LongTermDebt
405000000.0 USD
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
345000000.0 USD
CY2020Q2 us-gaap Long Term Debt Current
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0 USD
CY2019Q4 us-gaap Long Term Debt Current
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3000000.0 USD
CY2020Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
405000000.0 USD
CY2019Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
342000000.0 USD

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