$FAST
FASTENAL CO

2020 Q4 Form 10-Q Financial Statement

#000081555620000067 Filed on October 16, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $1.358B $1.413B $1.379B
YoY Change 6.35% 2.48% 7.76%
Cost Of Revenue $739.2M $772.7M $728.0M
YoY Change 8.95% 6.14% 9.64%
Gross Profit $618.8M $640.6M $651.1M
YoY Change 3.41% -1.61% 5.73%
Gross Profit Margin 45.57% 45.33% 47.21%
Selling, General & Admin $354.7M $350.5M $369.2M
YoY Change -1.44% -5.07% 4.35%
% of Gross Profit 57.32% 54.71% 56.7%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $42.00M $41.10M $37.30M
YoY Change 10.82% 10.19% 7.18%
% of Gross Profit 6.79% 6.42% 5.73%
Operating Expenses $354.7M $350.5M $369.2M
YoY Change -1.44% -5.07% 4.35%
Operating Profit $264.1M $290.1M $281.9M
YoY Change 10.73% 2.91% 7.47%
Interest Expense -$2.200M $2.600M $3.600M
YoY Change -12.0% -27.78% 20.0%
% of Operating Profit -0.83% 0.9% 1.28%
Other Income/Expense, Net
YoY Change
Pretax Income $262.2M $287.6M $278.4M
YoY Change 10.91% 3.3% 7.32%
Income Tax $66.10M $66.10M $64.90M
% Of Pretax Income 25.21% 22.98% 23.31%
Net Earnings $196.1M $221.5M $213.5M
YoY Change 9.74% 3.75% 8.05%
Net Earnings / Revenue 14.44% 15.67% 15.48%
Basic Earnings Per Share $0.34 $0.39 $0.37
Diluted Earnings Per Share $0.34 $0.38 $0.37
COMMON SHARES
Basic Shares Outstanding 574.1M shares 573.9M shares 573.5M shares
Diluted Shares Outstanding 576.1M shares 574.4M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $245.7M $331.8M $191.2M
YoY Change 40.48% 73.54% 47.42%
Cash & Equivalents $245.7M $331.8M $191.2M
Short-Term Investments
Other Short-Term Assets $140.3M $123.2M $137.2M
YoY Change -10.86% -10.2% 8.54%
Inventory $1.338B $1.343B $1.355B
Prepaid Expenses
Receivables $769.4M $834.5M $817.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.500B $2.647B $2.501B
YoY Change 1.73% 5.83% 12.37%
LONG-TERM ASSETS
Property, Plant & Equipment $1.031B $1.024B $997.7M
YoY Change 0.73% 2.61% 12.89%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $191.4M $193.8M $77.30M
YoY Change 150.85% 150.71% -8.63%
Total Long-Term Assets $1.465B $1.462B $1.313B
YoY Change 9.12% 11.31% 35.63%
TOTAL ASSETS
Total Short-Term Assets $2.500B $2.647B $2.501B
Total Long-Term Assets $1.465B $1.462B $1.313B
Total Assets $3.965B $4.109B $3.814B
YoY Change 4.34% 7.72% 19.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $207.0M $210.4M $215.2M
YoY Change 7.37% -2.23% 15.7%
Accrued Expenses $272.1M $258.2M $241.3M
YoY Change 8.19% 7.0% 6.02%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $40.00M $40.00M $3.000M
YoY Change 1233.33% 1233.33% 20.0%
Total Short-Term Liabilities $612.7M $603.0M $555.1M
YoY Change 12.48% 8.63% 33.41%
LONG-TERM LIABILITIES
Long-Term Debt $365.0M $365.0M $442.0M
YoY Change 6.73% -17.42% 14.06%
Other Long-Term Liabilities $151.5M $152.1M $144.8M
YoY Change 5.04%
Total Long-Term Liabilities $365.0M $365.0M $442.0M
YoY Change 6.73% -17.42% 14.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $612.7M $603.0M $555.1M
Total Long-Term Liabilities $365.0M $365.0M $442.0M
Total Liabilities $977.7M $968.0M $997.1M
YoY Change 10.26% -2.92% 24.08%
SHAREHOLDERS EQUITY
Retained Earnings $2.690B $2.867B $2.582B
YoY Change 2.11% 11.05% 10.23%
Common Stock $64.80M $60.70M $53.20M
YoY Change -7.56% 14.1% 416.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.733B $2.886B $2.586B
YoY Change
Total Liabilities & Shareholders Equity $3.965B $4.109B $3.814B
YoY Change 4.34% 7.72% 19.42%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $196.1M $221.5M $213.5M
YoY Change 9.74% 3.75% 8.05%
Depreciation, Depletion And Amortization $42.00M $41.10M $37.30M
YoY Change 10.82% 10.19% 7.18%
Cash From Operating Activities $321.0M $289.0M $257.3M
YoY Change 27.18% 12.32% 39.38%
INVESTING ACTIVITIES
Capital Expenditures -$44.60M -$33.50M -$61.20M
YoY Change -28.18% -45.26% 67.67%
Acquisitions
YoY Change
Other Investing Activities $1.700M $3.400M $1.700M
YoY Change 13.33% 100.0% -120.0%
Cash From Investing Activities -$42.90M -$30.10M -$59.50M
YoY Change -29.21% -49.41% 32.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -370.5M -131.4M -178.3M
YoY Change 75.76% -26.3% 23.73%
NET CHANGE
Cash From Operating Activities 321.0M 289.0M 257.3M
Cash From Investing Activities -42.90M -30.10M -59.50M
Cash From Financing Activities -370.5M -131.4M -178.3M
Net Change In Cash -92.40M 127.5M 19.50M
YoY Change 386.32% 553.85% -533.33%
FREE CASH FLOW
Cash From Operating Activities $321.0M $289.0M $257.3M
Capital Expenditures -$44.60M -$33.50M -$61.20M
Free Cash Flow $365.6M $322.5M $318.5M
YoY Change 16.25% 1.26% 44.05%

Facts In Submission

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108000000.0 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-22800000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
76900000 USD
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-34200000 USD
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-9800000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
17600000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
21600000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
6700000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
500000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
2100000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
8600000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-300000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-1100000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
780800000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
590300000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
123500000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
184300000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
8600000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
5000000.0 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
-1100000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-200000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-238800000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-179100000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
910000000.0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
745000000.0 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
850000000.0 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
800000000.0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
38300000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
43000000.0 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
PaymentsOfDividends
430200000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
372300000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-383900000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-384300000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-1200000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-2900000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
156900000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
24000000.0 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
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
331800000 USD
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
191200000 USD
us-gaap Interest Paid Net
InterestPaidNet
5900000 USD
us-gaap Interest Paid Net
InterestPaidNet
11300000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
201400000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
182600000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
76100000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
87600000 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
CommonStockSharesIssued
1 shares
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4289300000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4056800000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1413300000 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1379100000 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
CY2020Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.250
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
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
13104021 shares
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6035427 shares
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1839849 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
ShareBasedCompensation
4300000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4300000 USD
CY2020Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
13800000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P4Y3D
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
573673031 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
572934475 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
573913929 shares
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
573452002 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1797201 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1042830 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2203402 shares
CY2019Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
914771 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
575470232 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
573977305 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
576117331 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
574366773 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
852728 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
460824 shares
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
553366 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
27.55
CY2020Q3 fast Antidilutive Securities Excluded From Computation Of Earnings Per Share Weighted Average Exercise Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareWeightedAverageExercisePrice
0
CY2019Q3 fast Antidilutive Securities Excluded From Computation Of Earnings Per Share Weighted Average Exercise Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareWeightedAverageExercisePrice
27.59
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0 USD
CY2020Q2 fast Deferred Tax Payments Liability Cares Act
DeferredTaxPaymentsLiabilityCARESAct
111500000 USD
CY2020Q3 fast Deferred Federal And State Income Tax Payments Cares Act
DeferredFederalAndStateIncomeTaxPaymentsCARESAct
103900000 USD
CY2020Q3 us-gaap Residual Value Of Leased Asset
ResidualValueOfLeasedAsset
85400000 USD
CY2020Q3 us-gaap Long Term Debt
LongTermDebt
405000000.0 USD
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
345000000.0 USD
CY2020Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
40000000.0 USD
CY2019Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
3000000.0 USD
CY2020Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
365000000.0 USD
CY2019Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
342000000.0 USD

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