XML 15 R2.htm IDEA: XBRL DOCUMENT v3.25.0.1
Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
The following table sets forth additional compensation information of our principal executive officer (PEO) and our other named executive officers (NEOs) (averaged) along with total shareholder return, net income, and company-wide pre-tax income performance results for our fiscal years ending in 2024, 2023, 2022, 2021, and 2020:
Value of Initial Fixed $100 Investment Based On:
Fiscal
Year
Summary Compensation Table Total for PEO (1) (2)
($)
Compensation Actually Paid to PEO (1) (2)
($)
Average Summary Compensation Table Total for Other NEOs (1) (2)
($)
Average Compensation Actually Paid to Other NEOs (1) (2)
($)
FAST Total Shareholder Return (3)
($)
Peer Group Total Shareholder Return (3) (4)
Net Income
($ in millions)
Company-Wide Pre-Tax Income (5)
($ in millions)
20241,695,887 2,280,298 860,697 1,055,881 222 247 1,150.6 1,508.1 
20233,115,507 5,360,613 1,449,743 1,757,205 196 218 1,155.0 1,522.0 
20225,439,610 3,307,940 2,408,942 1,793,142 138 147 1,086.9 1,440.0 
20212,423,614 5,572,876 1,358,039 2,295,107 183 169 925.0 1,207.8 
20202,539,150 5,321,725 1,316,849 2,067,665 137 126 859.1 1,132.7 
       
Company Selected Measure Name company-wide pre-tax income        
Named Executive Officers, Footnote Our PEO and Other NEOs for each reported fiscal year were:
Fiscal
Year
PEOOther NEOs
2024Daniel L. FlornessHolden Lewis, Jeffery M. Watts, Charles S. Miller, and William J. Drazkowski
2023Daniel L. FlornessHolden Lewis, Charles S. Miller, Jeffery M. Watts, John L. Soderberg, and Terry M. Owen
2022Daniel L. Florness
Holden Lewis, Terry M. Owen, Charles S. Miller, and Reyne K. Wisecup
2021Daniel L. Florness
Holden Lewis, Jeffery M. Watts, Terry M. Owen, and William J. Drazkowski
2020Daniel L. FlornessHolden Lewis, Terry M. Owen, Jeffery M. Watts, and Reyne K. Wisecup
       
Peer Group Issuers, Footnote Our peer group used for the TSR calculation is the Dow Jones US Industrial Suppliers Index, which is the industry index used to show our performance in our Form 10-K.        
PEO Total Compensation Amount $ 1,695,887 $ 3,115,507 $ 5,439,610 $ 2,423,614 $ 2,539,150
PEO Actually Paid Compensation Amount $ 2,280,298 5,360,613 3,307,940 5,572,876 5,321,725
Adjustment To PEO Compensation, Footnote SEC rules require certain adjustments be made to the Summary Compensation Table (SCT) totals to determine compensation actually paid (CAP) as reported in the Pay Versus Performance Table. CAP does not necessarily represent cash and/or equity value transferred to the applicable NEO without restriction, but rather is a value calculated under applicable SEC rules. The PEO and NEOs do not participate in a defined benefit plan, so no adjustment for pension benefits is included in the table below. The following table details these adjustments from the SCT total compensation to determine CAP in 2024:
AdjustmentsPEO
($)
Average of Other NEOs
($)
Total Compensation from SCT1,695,887 860,697 
Adjustments for Stock and Option Awards
Subtract SCT amounts of stock and option awards(867,883)(353,504)
Add fair value as of the year-end of awards granted during 2024 that are outstanding and unvested at the end of 20241,039,690 423,484 
Plus (Minus) change in fair value of awards between the end of 2023 and the end of 2024 for awards granted in any prior fiscal year that are outstanding and unvested at the end of 2024534,079 158,594 
Add vesting date fair value of awards granted and vesting during 2024— — 
Plus (Minus) change in fair value from the end of 2023 to the vesting date of awards granted in any prior fiscal year which met all vesting conditions during 2024(121,475)(33,390)
Subtract fair value at end of 2023 for awards granted in any prior fiscal year that fail to meet the applicable vesting conditions during 2024— — 
Add dividends or other income paid on stock or option awards in 2024 prior to vesting if not otherwise included in the SCT for the covered year— — 
Compensation Actually Paid (as calculated)2,280,298 1,055,881 
       
Non-PEO NEO Average Total Compensation Amount $ 860,697 1,449,743 2,408,942 1,358,039 1,316,849
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,055,881 1,757,205 1,793,142 2,295,107 2,067,665
Adjustment to Non-PEO NEO Compensation Footnote SEC rules require certain adjustments be made to the Summary Compensation Table (SCT) totals to determine compensation actually paid (CAP) as reported in the Pay Versus Performance Table. CAP does not necessarily represent cash and/or equity value transferred to the applicable NEO without restriction, but rather is a value calculated under applicable SEC rules. The PEO and NEOs do not participate in a defined benefit plan, so no adjustment for pension benefits is included in the table below. The following table details these adjustments from the SCT total compensation to determine CAP in 2024:
AdjustmentsPEO
($)
Average of Other NEOs
($)
Total Compensation from SCT1,695,887 860,697 
Adjustments for Stock and Option Awards
Subtract SCT amounts of stock and option awards(867,883)(353,504)
Add fair value as of the year-end of awards granted during 2024 that are outstanding and unvested at the end of 20241,039,690 423,484 
Plus (Minus) change in fair value of awards between the end of 2023 and the end of 2024 for awards granted in any prior fiscal year that are outstanding and unvested at the end of 2024534,079 158,594 
Add vesting date fair value of awards granted and vesting during 2024— — 
Plus (Minus) change in fair value from the end of 2023 to the vesting date of awards granted in any prior fiscal year which met all vesting conditions during 2024(121,475)(33,390)
Subtract fair value at end of 2023 for awards granted in any prior fiscal year that fail to meet the applicable vesting conditions during 2024— — 
Add dividends or other income paid on stock or option awards in 2024 prior to vesting if not otherwise included in the SCT for the covered year— — 
Compensation Actually Paid (as calculated)2,280,298 1,055,881 
       
Compensation Actually Paid vs. Total Shareholder Return
CAP Versus Fastenal and Peer Group TSR (1)
Picture1.jpg
(1)    TSR in the above chart, in the case of both us and our peer group, reflects the cumulative return of $100 as if invested on December 31, 2019, including reinvestment of any dividends.
       
Compensation Actually Paid vs. Net Income
CAP Versus Net Income and Company-Wide Pre-Tax Income
Picture2.jpg
       
Compensation Actually Paid vs. Company Selected Measure
CAP Versus Net Income and Company-Wide Pre-Tax Income
Picture2.jpg
       
Total Shareholder Return Vs Peer Group
CAP Versus Fastenal and Peer Group TSR (1)
Picture1.jpg
(1)    TSR in the above chart, in the case of both us and our peer group, reflects the cumulative return of $100 as if invested on December 31, 2019, including reinvestment of any dividends.
       
Tabular List, Table
The following table lists the most important financial performance measures we used to link CAP to the NEOs for fiscal 2024 to our performance:
PEO
CFO
Other NEOs
Company-wide pre-tax incomeCompany-wide pre-tax incomeCompany-wide pre-tax income
Working capital managementCompany-wide net incomeWorking capital management
Working capital management
       
Total Shareholder Return Amount $ 222 196 138 183 137
Peer Group Total Shareholder Return Amount 247 218 147 169 126
Net Income (Loss) $ 1,150,600,000 $ 1,155,000,000 $ 1,086,900,000 $ 925,000,000.0 $ 859,100,000
Company Selected Measure Amount 1,508,100,000 1,522,000,000 1,440,000,000 1,207,800,000 1,132,700,000
PEO Name Daniel L. Florness Daniel L. Florness Daniel L. Florness Daniel L. Florness Daniel L. Florness
Measure:: 4          
Pay vs Performance Disclosure          
Other Performance Measure, Amount 100        
Non-GAAP Measure Description Total shareholder return is calculated based on a fixed investment of one hundred dollars measured from the market close on December 31, 2019 (the last trading day of fiscal 2019) through and including the end of each fiscal year reported in the table.        
Measure:: 5          
Pay vs Performance Disclosure          
Non-GAAP Measure Description Our company-selected measure, which is the measure we believe represents the most important financial performance not otherwise presented in the table above that we use to link CAP to our NEOs for fiscal 2024 to Fastenal's performance, is company-wide pre-tax income. The 'income before income taxes' line item in our consolidated statements of income is equal to 'company-wide pre-tax income' and is calculated in conformity with U.S. GAAP.        
PEO | Measure:: 1          
Pay vs Performance Disclosure          
Name Company-wide pre-tax income        
PEO | Measure:: 2          
Pay vs Performance Disclosure          
Name Working capital management        
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (867,883)        
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,039,690        
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 534,079        
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (121,475)        
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 0        
Non-PEO NEO | Measure:: 1          
Pay vs Performance Disclosure          
Name Company-wide pre-tax income        
Non-PEO NEO | Measure:: 2          
Pay vs Performance Disclosure          
Name Working capital management        
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (353,504)        
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 423,484        
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 158,594        
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (33,390)        
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 0        
CFO [Member] | Measure:: 1          
Pay vs Performance Disclosure          
Name Company-wide pre-tax income        
CFO [Member] | Measure:: 2          
Pay vs Performance Disclosure          
Name Working capital management        
CFO [Member] | Measure:: 3          
Pay vs Performance Disclosure          
Name Company-wide net income