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Tables in the 10-K of FASTENAL CO
79 tables with numbers, filed Feb 5, 2016. Each one downloads as a CSV for Excel or
Google Sheets, with the filing's address in the last row. Only the layout is tidied (a "$" or ")" in a cell of its own is joined to its number); no value is changed.
Open the filing on sec.gov ↗
| | Page |
| PART I | |
| Item 1. | Business | 3 |
| Item 1A. | Risk Factors | 10 |
| Item 1B. | Unresolved Staff Comments | 15 |
| Item 2. | Properties | 15 |
| Item 3. | Legal Proceedings | 16 |
| Item 4. | Mine Safety Disclosures | 16 |
First 8 of 28 rows. The CSV has all of them.
Table 2 after “people. We characterize these personnel as follows:”
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| 2015 | 2014 | |
| Store and Onsite | 13,961 | | 12,293 |
| Non-store selling | 1,566 | | 1,349 |
| Selling subtotal | 15,527 | | 13,642 |
| Distribution | 3,459 | | 3,120 |
| Manufacturing | 662 | | 630 |
| Administrative | 1,098 | | 1,025 |
| Non-selling subtotal | 5,219 | | 4,775 |
First 8 of 9 rows. The CSV has all of them.
Table 3 after “We opened our first store in Winona, Minnesota, a city with a population today of approximately 27,000. The following table shows our consol”
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| 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
| Net sales (in millions) | $3,869.2 | 3,733.5 | 3,326.1 | 3,133.6 | 2,766.9 | 2,269.5 | 1,930.3 | 2,340.4 | 2,061.8 | 1,809.3 |
| Number of stores | 2,622 | 2,637 | 2,687 | 2,652 | 2,585 | 2,490 | 2,369 | 2,311 | 2,160 | 2,000 |
Table 4 after “We operated the following number of store locations:”
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| | 2015 | 2014 | |
| North America | United States | 2,320 | | 2,336 |
| Puerto Rico and Dominican Republic | 8 | | 8 |
| Canada | 200 | | 202 |
| Mexico | 47 | | 44 |
| Subtotal | 2,575 | | 2,590 |
| Central & South America | Panama, Brazil, Colombia, and Chile | 9 | | 9 |
| Asia | China and India | 10 | | 10 |
First 8 of 12 rows. The CSV has all of them.
Table 5 after “We opened the following stores in the last five years:”
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| | 2015 | 2014 | | 2013 | 2012 | 2011 | | |
| North America | United States | 32 | | 10 | | 30 | | 58 | 101 |
| Puerto Rico and Dominican Republic | — | | — | | — | | — | — |
| Canada | 4 | | 4 | | 10 | | 13 | 11 |
| Mexico | 3 | | 3 | | 5 | | 2 | 1 |
| Subtotal | 39 | | 17 | | 45 | | 73 | 113 |
| Central & South America | Panama, Brazil, Colombia, and Chile | 1 | | 1 | | 4 | | 1 | 1 |
| Asia | China and India | 1 | | 2 | | — | | — | 3 |
First 8 of 12 rows. The CSV has all of them.
Table 6 after “or from our non-store business.”
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| Age of Stores onDecember 31, 2015 | YearOpened | Number ofStores in Groupon December31, 2015 | Closed Stores(1) | Converted Stores(2) | AverageMonthlySales2015(3) | | AverageMonthlySales2014(3) | | PercentChange | | |
| 0-1 year old | 2015 | 41 | 0/0 | 0/0 | $18 | (4) | | N/A | | — | |
| 1-2 years old | 2014 | 22 | 2/0 | 0/0 | 106 | | | 37 | (4) | | 186.5% |
| 2-3 years old | 2013 | 48 | 3/0 | -2/0 | 100 | | | 90 | | | 11.1% |
| 3-4 years old | 2012 | 70 | 5/3 | 0/0 | 93 | | | 88 | | | 5.7% |
| 4-5 years old | 2011 | 109 | 4/8 | 0/-1 | 94 | | | 96 | | | -2.1% |
| 5-6 years old | 2010 | 108 | 7/7 | -1/0 | 104 | | | 96 | | | 8.3% |
| 6-7 years old | 2009 | 57 | 4/4 | -1/0 | 149 | | | 146 | | | 2.1% |
First 8 of 15 rows. The CSV has all of them.
Table 7 after “We own the following facilities in Winona, Minnesota:”
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| Purpose | Tote Locations (ASRS)(1) | ApproximateSquare Feet | |
| Distribution center and home office | 253,000 | | 259,000 |
| Manufacturing facility | | 100,000 | |
| Computer support center | | 13,000 | |
| Winona store | | 15,000 | |
| Winona product support facility | | 55,000 | |
| Rack and shelving storage | | 42,000 | |
| Multi-building complex which houses certain operations of the distribution group, the support services group, and the home office support group | | 30,000 | |
First 8 of 9 rows. The CSV has all of them.
Table 8 after “We own the following facilities, excluding store locations, outside of Winona, Minnesota:”
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| Purpose | Location | Tote Locations (ASRS)(1) | ApproximateSquare Feet | |
| Distribution center | Indianapolis, Indiana | 539,000 | (2) | 1,039,000 |
| Manufacturing facility | Indianapolis, Indiana | | 220,000 | |
| Distribution center | Atlanta, Georgia | 78,000 | | 198,000 |
| Distribution center | Dallas, Texas | 41,000 | (3) | 176,000 |
| Distribution center | Scranton, Pennsylvania | 87,000 | | 189,000 |
| Distribution center | Akron, Ohio | 74,000 | | 152,000 |
| Distribution center | Kansas City, Kansas | — | | 300,000 |
First 8 of 14 rows. The CSV has all of them.
Table 9 after “All other buildings we occupy are leased. Leased stores range from approximately 3,000 to 10,000 square feet, with lease terms of up to 60 m”
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| Purpose | Location | ApproximateSquare Feet | Lease ExpirationDate | | RemainingLeaseRenewalOptions | |
| Distribution center | Seattle, Washington | 100,000 | | April 2017 | | Two |
| Distribution center | Salt Lake City, Utah | 74,000 | | July 2017 | | Two |
| Distribution center and packaging facility | Salt Lake City, Utah | 26,000 | | July 2017 | | One |
| Distribution center | Apodaca, Nuevo Leon, Mexico | 46,000 | | March 2020 | | None |
| Distribution center and manufacturing facility | Edmonton, Alberta, Canada | 45,000 | | July 2020 | | One |
| Manufacturing facility | Houston, Texas | 21,000 | | July 2019 | | None |
| Local re-distribution center and manufacturing facility | Modrice, Czech Republic | 15,000 | | July 2021 | | None |
Table 10 after “The executive officers of Fastenal Company are:”
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| Name | Employee ofFastenalSince | Age | Position |
| Daniel L. Florness | 1996 | 52 | President, Chief Executive Officer, and Director |
| Leland J. Hein | 1985 | 55 | Senior Executive Vice President – Sales and Director |
| James C. Jansen | 1992 | 45 | Executive Vice President – Manufacturing |
| Sheryl A. Lisowski | 1994 | 48 | Interim Chief Financial Officer, Controller, and Chief Accounting Officer |
| Nicholas J. Lundquist | 1979 | 58 | Executive Vice President – Operations |
| Charles S. Miller | 1999 | 41 | Executive Vice President – Sales |
| Terry M. Owen | 1999 | 47 | Senior Executive Vice President – Sales Operations |
First 8 of 12 rows. The CSV has all of them.
| 2015 | High | Low | | 2014 | High | Low | |
| First quarter | $47.40 | | $39.82 | | First quarter | $50.43 | $42.70 |
| Second quarter | 43.41 | | 40.01 | | Second quarter | 51.20 | 47.80 |
| Third quarter | 42.82 | | 36.13 | | Third quarter | 50.08 | 43.74 |
| Fourth quarter | 41.64 | | 35.50 | | Fourth quarter | 48.21 | 40.78 |
Table 12 after “The following table sets forth our dividend payout (on a per share basis) in each of the last two years:”
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| 2015 | 2014 | |
| First quarter | $0.28 | | $0.25 |
| Second quarter | 0.28 | | 0.25 |
| Third quarter | 0.28 | | 0.25 |
| Fourth quarter | 0.28 | | 0.25 |
| Total | $1.12 | | $1.00 |
| (a) | (b) | (c) | | (d) | |
| Period | Total Number of SharesPurchased | Average PricePaid per Share | Total Number ofShares Purchasedas Part of PubliclyAnnounced Plansor Programs (1) | | Maximum Number (orApproximate DollarValue) of Shares that May Yet Be Purchased Under the Plans or Programs (1) | |
| October 1-31, 2015 | 200,000 | $38.55 | | 200,000 | | 3,200,000 |
| November 1-30, 2015 | 200,000 | $38.77 | | 200,000 | | 3,000,000 |
| December 1-31, 2015 | 100,000 | $39.97 | | 100,000 | | 2,900,000 |
| Total | 500,000 | $38.92 | | 500,000 | | 2,900,000 |
Table 14 after “Comparison of Five Year Cumulative Total Return Among Fastenal Company, the S&P 500 Index, and the Dow Jones US Industrial Suppliers Index”
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| | 2010 | | 2011 | | 2012 | | 2013 | | 2014 | | 2015 |
| Fastenal Company | $100.00 | | 148.43 | | 163.37 | | 169.18 | | 173.16 | | 152.71 | |
| S&P 500 Index | | 100.00 | | 102.11 | | 118.45 | | 156.82 | | 178.28 | | 180.75 |
| Dow Jones US Industrial Suppliers Index | | 100.00 | | 132.98 | | 145.02 | | 167.88 | | 167.78 | | 136.77 |
Table 15 after “The table below summarizes our store employee count and our total employee count at the end of the periods presented. This is intended to de”
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| Q4 2014 | Q4 2015 | | Twelve-month % Change | |
| End of period total store employee count | 12,293 | | 13,961 | | 13.6% |
| Change in total store employee count | | 1,668 | | | |
| End of period total employee count | 18,417 | | 20,746 | | 12.6% |
| Change in total employee count | | 2,329 | | | |
| Industrial vending machines (installed device count) | 46,855 | | 55,510 | | 18.5% |
| Number of store locations | 2,637 | | 2,622 | | -0.6% |
Table 16 after “In regards to operating expenses, we added 2,329 people to the Fastenal organization in the last twelve months (about 81% of these people we”
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| Q4 2014 | Q4 2015 | | Twelve-month % Change | |
| Average full-time equivalent store employee count | 10,376 | | 11,436 | | 10.2% |
| Average full-time equivalent employee count | 15,512 | | 16,901 | | 9.0% |
| Note – Full-time equivalent is based on 40 hours per week. | | | | | |
Table 17 after “Net sales and daily sales were as follows:”
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| 2015 | 2014 | | 2013 | |
| Net sales | $3,869,187 | | 3,733,507 | | 3,326,106 |
| Percentage change | 3.6% | | 12.2% | | 6.1% |
| Business days | 254 | | 253 | | 254 |
| Daily sales | $15,233 | | 14,757 | | 13,095 |
| Percentage change | 3.2% | | 12.7% | | 6.1% |
| Impact of currency fluctuations (primarily Canada) | -1.2% | | -0.5% | | -0.2% |
Table 18 after “The impact of the economy is best reflected in the growth performance of our stores opened greater than ten years ago (store sites opened as”
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| Store Age | 2015 | 2014 | 2013 |
| Opened greater than 10 years | 2.7% | 10.5% | 2.1% |
| Opened greater than 5 years | 2.5% | 10.9% | 3.6% |
| Opened greater than 2 years | 2.5% | 11.5% | 4.4% |
Table 19 after “The approximate mix of sales from the fastener product line and from the other product lines was as follows:”
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| 2015 | 2014 | 2013 |
| Fastener product line | 38% | 40% | 42% |
| Other product lines | 62% | 60% | 58% |
Table 20 after “During the months noted below, all of our selling locations, when combined, had daily sales growth rates of (compared to the same month in t”
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| Jan. | Feb. | | Mar. | Apr. | May | | June | July | Aug. | | Sept. | Oct. | Nov. | | Dec. | | | | |
| 2015 | 12.0% | | 8.6% | | 5.6% | | 6.1% | | 5.3% | | 3.7% | | 3.2% | | 1.6% | | -0.3% | -0.8% | -1.1% | -3.8% |
| 2014 | 6.7% | | 7.7% | | 11.6% | | 10.0% | | 13.5% | | 12.7% | | 14.7% | | 15.0% | | 12.9% | 14.6% | 15.3% | 17.4% |
| 2013 | 6.7% | | 8.2% | | 5.1% | | 4.8% | | 5.3% | | 6.0% | | 2.9% | | 7.2% | | 5.7% | 7.7% | 8.2% | 6.7% |
Table 21 after “and earlier) represent a consistent 'same-store' view of our business. During the months noted below, the stores opened greater than two yea”
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| Jan. | Feb. | | Mar. | Apr. | May | | June | July | Aug. | | Sept. | Oct. | Nov. | | Dec. | | | | |
| 2015 | 11.2% | | 7.8% | | 4.8% | | 5.4% | | 4.6% | | 3.2% | | 2.6% | | 1.0% | | -0.9% | -1.1% | -2.1% | -5.0% |
| 2014 | 5.5% | | 6.5% | | 10.2% | | 8.4% | | 12.1% | | 11.4% | | 13.4% | | 14.0% | | 11.8% | 13.5% | 14.0% | 16.5% |
| 2013 | 5.0% | | 6.5% | | 3.4% | | 3.1% | | 3.5% | | 4.3% | | 1.4% | | 5.5% | | 4.2% | 6.1% | 6.2% | 4.9% |
Table 22 after “, is more cyclical due to the increased market share they enjoy in their local markets. During the months noted below, the stores opened gre”
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| Jan. | Feb. | | Mar. | Apr. | May | | June | July | Aug. | | Sept. | Oct. | Nov. | | Dec. | | | | |
| 2015 | 10.8% | | 7.2% | | 4.8% | | 5.6% | | 4.6% | | 3.1% | | 3.1% | | 1.3% | | -1.1% | -1.0% | -1.8% | -5.3% |
| 2014 | 4.6% | | 5.4% | | 9.5% | | 7.7% | | 11.5% | | 10.8% | | 12.9% | | 13.4% | | 11.7% | 13.3% | 13.6% | 16.2% |
| 2013 | 3.2% | | 5.6% | | 2.3% | | 2.0% | | 2.7% | | 3.4% | | 0.6% | | 4.7% | | 3.2% | 5.3% | 6.1% | 4.8% |
Table 23 after “The table below shows the pattern to the sequential change in our daily sales. The line labeled 'Benchmark' is an historical average of our ”
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| Jan.(1) | Feb. | | Mar. | Apr. | May | | June | July | Aug. | | Sept. | Oct. | Cumulative Change from Jan. to Oct. | | | | |
| Benchmark | 0.8% | | 2.2% | | 3.8% | | 0.4% | | 3.1% | | 2.7% | | -2.1% | | 2.5% | 3.7% | -1.2% | 15.9% |
| 2015 | -3.6% | | -0.1% | | 4.2% | | -2.1% | | 3.4% | | 0.9% | | -4.3% | | 4.1% | -0.9% | -2.0% | 2.9% |
| 15Delta | -4.4% | | -2.3% | | 0.4% | | -2.5% | | 0.3% | | -1.8% | | -2.2% | | 1.6% | -4.6% | -0.8% | -13.0% |
| 2014 | -1.4% | | 3.0% | | 7.1% | | -2.6% | | 4.2% | | 2.5% | | -3.8% | | 5.8% | 1.0% | -1.5% | 16.2% |
| 14Delta | -2.2% | | 0.8% | | 3.3% | | -3.0% | | 1.1% | | -0.2% | | -1.7% | | 3.3% | -2.7% | -0.3% | 0.3% |
| 2013 | -0.4% | | 2.0% | | 3.4% | | -1.1% | | 1.0% | | 3.2% | | -5.5% | | 5.5% | 2.9% | -2.9% | 8.2% |
| 13Delta | -1.2% | | -0.2% | | -0.4% | | -1.5% | | -2.1% | | 0.5% | | -3.4% | | 3.0% | -0.8% | -1.7% | -7.7% |
Table 24 after “The sequential trends noted above were directly linked to fluctuations in our end markets. To place this in perspective – approximately 50% ”
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| Q1 | Q2 | | Q3 | Q4 | Annual | | |
| 2015 | 6.9% | | 3.8% | | 1.1% | | -2.2% | 2.3% |
| 2014 | 9.0% | | 11.2% | | 13.7% | | 13.8% | 12.0% |
| 2013 | 7.0% | | 5.9% | | 4.7% | | 7.2% | 6.3% |
| Q1 | Q2 | | Q3 | Q4 | Annual | | |
| 2015 | 5.5% | | 0.0% | | -4.4% | | -6.2% | -1.4% |
| 2014 | 1.6% | | 5.5% | | 9.9% | | 11.4% | 6.9% |
| 2013 | 1.7% | | 1.9% | | 1.0% | | 1.9% | 1.6% |
| Q1 | Q2 | | Q3 | Q4 | Annual | | |
| 2015 | 11.7% | | 9.0% | | 5.9% | | 1.2% | 6.8% |
| 2014 | 14.2% | | 17.1% | | 17.6% | | 19.0% | 17.2% |
| 2013 | 10.8% | | 8.5% | | 8.9% | | 12.0% | 10.1% |
Table 27 after “Our non-residential construction customers have historically represented 20% to 25% of our business. The daily sales growth rates to these c”
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| Q1 | Q2 | | Q3 | Q4 | Annual | | |
| 2015 | 6.2% | | 1.6% | | -1.7% | | -6.1% | -0.2% |
| 2014 | 2.9% | | 7.5% | | 9.3% | | 12.6% | 7.8% |
| 2013 | 2.9% | | 0.7% | | 3.9% | | 2.8% | 2.5% |
Table 28 after “The industrial vending information related to contracts signed during each period was as follows:”
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| | Q1 | Q2 | | Q3 | Q4 | Annual | | |
| Device count signed during the period | 2015 | 3,962 | | 5,144 | | 4,689 | | 4,016 | 17,811 |
| 2014 | 4,025 | | 4,137 | | 4,072 | | 4,108 | 16,342 |
| 2013 | 6,568 | | 6,084 | | 4,836 | | 4,226 | 21,714 |
| 'Machine equivalent' count signed during the period | 2015 | 2,916 | | 3,931 | | 3,769 | | 3,319 | 13,935 |
| 2014 | 2,974 | | 3,179 | | 3,189 | | 3,243 | 12,585 |
| 2013 | 4,825 | | 4,505 | | 3,656 | | 3,244 | 16,230 |
Table 29 after “The industrial vending information related to installed machines at the end of each period was as follows:”
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| | Q1 | Q2 | | Q3 | Q4 | |
| Device count installed at the end of the period | 2015 | 48,545 | | 50,620 | | 53,547 | 55,510 |
| 2014 | 42,153 | | 43,761 | | 45,596 | 46,855 |
| 2013 | 32,007 | | 36,452 | | 39,180 | 40,775 |
| 'Machine equivalent' count installed at the end of the | 2015 | 35,997 | | 37,714 | | 40,067 | 41,905 |
| period | 2014 | 30,326 | | 31,713 | | 33,296 | 34,529 |
| 2013 | 22,020 | | 25,512 | | 27,818 | 29,262 |
Table 30 after “The following table includes some additional statistics regarding our sales and sales growth:”
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| | Q1 | Q2 | | Q3 | Q4 | |
| Percent of total net sales to customers with | 2015 | 40.5% | | 40.9% | | 42.1% | 43.9% |
| industrial vending(1) | 2014 | 37.8% | | 37.0% | | 37.8% | 39.3% |
| 2013 | 27.5% | | 30.0% | | 33.3% | 36.6% |
| Daily sales growth to customers with | 2015 | 12.3% | | 8.6% | | 4.8% | 0.7% |
| industrial vending(2) | 2014 | 19.7% | | 20.9% | | 21.9% | 20.0% |
| 2013 | 23.9% | | 18.9% | | 15.2% | 18.7% |
Table 31 after “The second component, operating and administrative expenses, does just the opposite, it generally improves as a percentage of net sales. Thi”
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| STATEMENT OF EARNINGS INFORMATION (percentage of net sales) for the periods ended December 31: | | | | | |
| Twelve-month Period | | | | |
| 2015 | 2014 | | 2013 | |
| Net sales | 100.0% | | 100.0% | | 100.0% |
| Gross profit | 50.4% | | 50.8% | | 51.7% |
| Operating and administrative expenses | 29.0% | | 29.8% | | 30.3% |
| Gain on sale of property and equipment | 0.0% | | 0.0% | | 0.0% |
| Operating income | 21.4% | | 21.1% | | 21.4% |
First 8 of 11 rows. The CSV has all of them.
Table 32 after “The gross profit percentage in the first, second, third, and fourth quarters was as follows:”
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| Q1 | Q2 | | Q3 | Q4 | |
| 2015 | 50.8% | | 50.3% | | 50.5% | 49.9% |
| 2014 | 51.2% | | 50.8% | | 50.8% | 50.5% |
| 2013 | 52.3% | | 52.2% | | 51.7% | 50.6% |
Table 33 after “The three largest components of operating and administrative expenses grew (or contracted) as follows for the periods ended December 31 (com”
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| Twelve-month Period | | | | |
| 2015 | 2014 | | 2013 | |
| Employee related expenses | 0.7% | | 11.7% | | 4.6% |
| Occupancy related expenses | 7.4% | | 6.9% | | 11.2% |
| Selling transportation costs | -13.1% | | 10.1% | | 0.8% |
Table 34 after “On average, the full-time equivalent (FTE) headcount grew as follows (compared to the same period in the preceding years):”
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| Twelve-month Period | | | | |
| 2015 | 2014 | | 2013 | |
| Store based | 6.2% | | 12.5% | | 2.3% |
| Total selling (includes store) | 6.1% | | 12.3% | | 3.3% |
| Distribution | 6.1% | | 11.5% | | 4.3% |
| Manufacturing | 0.1% | | 10.7% | | 6.0% |
| Administrative | 6.7% | | 8.9% | | 7.1% |
| Total average FTE headcount | 5.9% | | 11.9% | | 3.8% |
Table 35 after “Net earnings, net earnings per share (EPS), percentage change in net earnings, and the percentage change in EPS, were as follows:”
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| Dollar Amounts | 2015 | 2014 | | 2013 | |
| Net earnings | $516,361 | | 494,150 | | 448,636 |
| Basic EPS | 1.77 | | 1.67 | | 1.51 |
| Diluted EPS | 1.77 | | 1.66 | | 1.51 |
| Percentage Change | 2015 | 2014 | | 2013 | |
| Net earnings | 4.5% | | 10.1% | | 6.7% |
| Basic EPS | 6.0% | | 10.6% | | 6.3% |
| Diluted EPS | 6.6% | | 9.9% | | 6.3% |
Table 36 after “Operational working capital, which we define as accounts receivable, net and inventories, are highlighted below. The annual dollar change an”
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| Dollar change | 2015 | 2014 | |
| Accounts receivable, net | $6,298 | | 47,746 |
| Inventories | 44,039 | | 85,156 |
| Operational working capital | $50,337 | | 132,902 |
| Annual percentage change | 2015 | 2014 | |
| Accounts receivable, net | 1.4% | | 11.5% |
| Inventories | 5.1% | | 10.9% |
| Operational working capital | 3.8% | | 11.1% |
Table 37 after “The approximate percentage mix of inventory stocked at our stores versus our distribution center locations was as follows at year end:”
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| 2015 | 2014 | | 2013 | |
| Store | 61% | | 56% | | 58% |
| Distribution center | 39% | | 44% | | 42% |
| Total | 100% | | 100% | | 100% |
Table 38 after “Net cash provided by operating activities in dollars and as a percentage of net earnings were as follows:”
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| 2015 | 2014 | | 2013 | |
| Net cash provided | $546,940 | | 499,392 | | 416,120 |
| % of net earnings | 105.9% | | 101.1% | | 92.8% |
Table 39 after “Net cash used in investing activities in dollars and as a percentage of net earnings were as follows:”
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| 2015 | 2014 | | 2013 | |
| Net cash used | $180,627 | | 188,781 | | 201,792 |
| % of net earnings | 35.0% | | 38.2% | | 45.0% |
Table 40 after “Net capital expenditures (purchases of property and equipment, less proceeds from the sale of property and equipment) in dollars and as a pe”
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| 2015 | 2014 | | 2013 | |
| Net capital expenditures | $145,227 | | 183,655 | | 201,550 |
| % of net earnings | 28.1% | | 37.2% | | 44.9% |
| 2016 | 2015 | | 2014 | 2013 | |
| Net Capital Expenditures | (Estimate) | (Actual) | | (Actual) | (Actual) | |
| Manufacturing, warehouse and packaging equipment, industrial vending equipment, and facilities | $66,000 | | 112,460 | | 144,649 | 164,940 |
| Shelving and related supplies for store openings and for product expansion at existing stores | 22,000 | | 8,958 | | 6,712 | 6,354 |
| Data processing software and equipment | 24,000 | | 19,653 | | 23,978 | 12,652 |
| Real estate and improvements to store locations | 5,000 | | 4,247 | | 4,091 | 9,603 |
| Vehicles | 18,000 | | 9,850 | | 10,044 | 12,991 |
| Proceeds from sale of property and equipment | (7,000) | | (9,941) | | (5,819) | (4,990) |
First 8 of 9 rows. The CSV has all of them.
Table 42 after “The borrowings under the credit facility peaked during each quarter as follows:”
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| Peak borrowings | 2015 | 2014 | |
| First quarter | 185,000 | | 85,000 |
| Second quarter | 400,000 | | 115,000 |
| Third quarter | 395,000 | | 160,000 |
| Fourth quarter | 390,000 | | 155,000 |
Table 43 after “We have future commitments for facilities and equipment and for vehicles at year end. The facility and vehicle amounts primarily consist of ”
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| Total | 2016 | | 2017 and 2018 | 2019 and 2020 | After 2020 | | |
| Facilities and equipment | $247,128 | | 95,789 | | 113,782 | | 35,978 | 1,579 |
| Vehicles | 54,581 | | 27,599 | | 25,540 | | 1,442 | — |
| Total | $301,709 | | 123,388 | | 139,322 | | 37,420 | 1,579 |
Table 44 after “Net cash used in financing activities in dollars and as a percentage of net earnings were as follows:”
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| 2015 | 2014 | | 2013 | |
| Net cash used | $337,563 | | 249,732 | | 234,443 |
| % of net earnings | 65.4% | | 50.5% | | 52.3% |
Table 45 after “The fluctuations in net cash used in financing activities are due to changes in the level of our dividend payments and in the level of commo”
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| 2015 | 2014 | | 2013 | |
| Dividends paid | $327,101 | | 296,581 | | 237,456 |
| % of net earnings | 63.3% | | 60.0% | | 52.9% |
| Common stock purchases | 292,951 | | 52,942 | | 9,080 |
| % of net earnings | 56.7% | | 10.7% | | 2.0% |
| Total returned to shareholders | $620,052 | | 349,523 | | 246,536 |
| % of net earnings | 120.1% | | 70.7% | | 54.9% |
| Proceeds from the exercise of stock options and the related excess tax benefits from stock-based compensation | $(22,489) | | (9,791) | | (12,093) |
First 8 of 13 rows. The CSV has all of them.
Table 46 after “(Amounts in thousands except share information)”
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| December 31 | | |
| 2015 | 2014 | |
| Assets | | | |
| Current assets: | | | |
| Cash and cash equivalents | $129,019 | | 114,496 |
| Trade accounts receivable, net of allowance for doubtful accounts of $11,729 and $12,619, respectively | 468,375 | | 462,077 |
| Inventories | 913,263 | | 869,224 |
| Deferred income tax assets | — | | 21,765 |
First 8 of 32 rows. The CSV has all of them.
Table 47 after “For the year ended December 31”
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| 2015 | 2014 | | 2013 | |
| Net sales | $3,869,187 | | 3,733,507 | | 3,326,106 |
| Cost of sales | 1,920,253 | | 1,836,105 | | 1,606,661 |
| Gross profit | 1,948,934 | | 1,897,402 | | 1,719,445 |
| Operating and administrative expenses | 1,121,590 | | 1,110,776 | | 1,007,431 |
| Gain on sale of property and equipment | (1,411) | | (964) | | (643) |
| Operating income | 828,755 | | 787,590 | | 712,657 |
| Interest income | 373 | | 759 | | 924 |
First 8 of 16 rows. The CSV has all of them.
Table 48 after “For the year ended December 31”
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| 2015 | 2014 | | 2013 | |
| Net earnings | $516,361 | | 494,150 | | 448,636 |
| Other comprehensive (loss) income, net of tax: | | | | | |
| Foreign currency translation adjustments (net of tax of $0 in 2015, 2014, and 2013) | (38,567) | | (18,683) | | (7,354) |
| Change in marketable securities (net of tax of $0 in 2015, 2014, and 2013) | — | | (254) | | 98 |
| Comprehensive income | $477,794 | | 475,213 | | 441,380 |
| Common Stock | | | | | | | | | |
| Shares | Amount | | AdditionalPaid-inCapital | RetainedEarnings | AccumulatedOtherComprehensiveIncome (Loss) | | TotalStockholders’Equity | | |
| Balance as of December 31, 2012 | 296,564 | | $2,966 | | 61,436 | | 1,477,601 | | 18,357 | 1,560,360 |
| Dividends paid in cash | — | | — | | — | | (237,456) | | — | (237,456) |
| Purchases of common stock | (200) | | (2) | | (9,078) | | — | | — | (9,080) |
| Stock options exercised | 389 | | 4 | | 9,302 | | — | | — | 9,306 |
| Stock-based compensation | — | | — | | 5,400 | | — | | — | 5,400 |
| Excess tax benefits from stock-based compensation | — | | — | | 2,787 | | — | | — | 2,787 |
First 8 of 27 rows. The CSV has all of them.
Table 50 after “For the year ended December 31”
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| 2015 | 2014 | | 2013 | |
| Cash flows from operating activities: | | | | | |
| Net earnings | $516,361 | | 494,150 | | 448,636 |
| Adjustments to reconcile net earnings to net cash provided by operating activities, net of acquisitions: | | | | | |
| Depreciation of property and equipment | 86,071 | | 72,145 | | 63,770 |
| Gain on sale of property and equipment | (1,411) | | (964) | | (643) |
| Bad debt expense | 8,769 | | 11,480 | | 9,421 |
| Deferred income taxes | 8,290 | | 1,760 | | 8,129 |
First 8 of 42 rows. The CSV has all of them.
Table 51 after “Property and equipment at year end consisted of the following:”
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| Depreciable Lifein Years | 2015 | | 2014 | | |
| Land | — | | $37,671 | | | 36,511 |
| Buildings and improvements | 15 to 40 | | 271,302 | | | 224,365 |
| Automated storage and retrieval equipment | 5 to 30 | | 139,101 | | | 116,127 |
| Equipment and shelving | 3 to 10 | | 614,528 | | | 519,635 |
| Transportation equipment | 3 to 5 | | 61,429 | | | 59,459 |
| Construction in progress | — | | 200,892 | | | 237,637 |
| | 1,324,923 | | | 1,193,734 | |
First 8 of 10 rows. The CSV has all of them.
Table 52 after “Accrued expenses at year end consisted of the following:”
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| 2015 | 2014 | |
| Payroll and related taxes | $24,407 | | 21,928 |
| Bonuses and commissions | 15,441 | | 20,910 |
| Profit sharing contribution | 13,669 | | 11,460 |
| Insurance | 31,821 | | 31,137 |
| Promotions | 25,261 | | 23,224 |
| Sales, real estate, and personal property taxes | 66,563 | | 58,716 |
| Deferred revenue | 2,875 | | 3,125 |
First 8 of 11 rows. The CSV has all of them.
Table 53 after “Our authorized, issued, and outstanding shares (stated in whole numbers) at year end consisted of the following:”
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| Par Value | 2015 | 2014 | |
| Preferred stock | $0.01/share | | | |
| Shares authorized | | 5,000,000 | | 5,000,000 |
| Shares issued and outstanding | | — | | — |
| Common stock | $0.01/share | | | |
| Shares authorized | | 400,000,000 | | 400,000,000 |
| Shares issued and outstanding | | 289,581,682 | | 295,867,844 |
Table 54 after “The following tables summarize the details of grants made under our stock option plan that are still outstanding, and the assumptions used t”
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| OptionsGranted | Option Exercise(Strike) Price | | Closing StockPrice on Dateof Grant | December 31, 2015 | | | | |
| Date of Grant | OptionsOutstanding | OptionsExercisable | | | | | | | |
| April 21, 2015 | 893,220 | | $42.00 | | $41.26 | | 817,990 | | — |
| April 22, 2014 | 955,000 | | $56.00 | | $50.53 | | 797,500 | | 5,000 |
| April 16, 2013 | 205,000 | | $54.00 | | $49.25 | | 125,000 | | 2,500 |
| April 17, 2012 | 1,235,000 | | $54.00 | | $49.01 | | 1,039,500 | | 341,250 |
| April 19, 2011 | 410,000 | | $35.00 | | $31.78 | | 250,300 | | 150,300 |
| April 20, 2010 | 530,000 | | $30.00 | | $27.13 | | 210,350 | | 120,350 |
First 8 of 12 rows. The CSV has all of them.
Table 55 after “The following tables summarize the details of grants made under our stock option plan that are still outstanding, and the assumptions used t”
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| Date of Grant | Risk-freeInterest Rate | Expected Lifeof Option inYears | | ExpectedDividendYield | | ExpectedStockVolatility | Estimated FairValue of StockOption | |
| April 21, 2015 | 1.3% | | 5.00 | | 2.7% | | 26.84% | $7.35 |
| April 22, 2014 | 1.8% | | 5.00 | | 2.0% | | 28.55% | $9.57 |
| April 16, 2013 | 0.7% | | 5.00 | | 1.6% | | 37.42% | $12.66 |
| April 17, 2012 | 0.9% | | 5.00 | | 1.4% | | 39.25% | $13.69 |
| April 19, 2011 | 2.1% | | 5.00 | | 1.6% | | 39.33% | $11.20 |
| April 20, 2010 | 2.6% | | 5.00 | | 1.5% | | 39.10% | $8.14 |
| April 21, 2009 | 1.9% | | 5.00 | | 1.0% | | 38.80% | $3.64 |
First 8 of 10 rows. The CSV has all of them.
Table 56 after “A summary of the activity under our stock option plan is as follows:”
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| OptionsOutstanding | ExercisePrice(1) | | RemainingLife(2) | |
| Outstanding as of January 1, 2015 | 4,712,330 | | $38.52 | | 4.59 |
| Granted | 893,220 | | $42.00 | | 8.41 |
| Exercised | (813,838) | | $23.47 | | |
| Cancelled/forfeited | (260,730) | | $45.84 | | |
| Outstanding as of December 31, 2015 | 4,530,982 | | $41.49 | | 4.89 |
| Exercisable as of December 31, 2015 | 1,792,242 | | $31.00 | | 2.15 |
Table 57 after “A summary of the activity under our stock option plan is as follows:”
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| OptionsOutstanding | Exercise Price(1) | | RemainingLife(2) | |
| Outstanding as of January 1, 2014 | 4,356,630 | | $34.06 | | 4.66 |
| Granted | 955,000 | | $56.00 | | 8.41 |
| Exercised | (314,300) | | $24.49 | | |
| Cancelled/forfeited | (285,000) | | $44.39 | | |
| Outstanding as of December 31, 2014 | 4,712,330 | | $38.52 | | 4.59 |
| Exercisable as of December 31, 2014 | 1,972,330 | | $27.89 | | 2.51 |
Table 58 after “The following tables present a reconciliation of the denominators used in the computation of basic and diluted earnings per share and a summ”
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| Reconciliation | 2015 | 2014 | | 2013 | |
| Basic weighted average shares outstanding | 291,453,107 | | 296,490,378 | | 296,754,160 |
| Weighted shares assumed upon exercise of stock options | 592,335 | | 822,866 | | 929,428 |
| Diluted weighted average shares outstanding | 292,045,442 | | 297,313,244 | | 297,683,588 |
Table 59 after “The following tables present a reconciliation of the denominators used in the computation of basic and diluted earnings per share and a summ”
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| Summary of Anti-dilutive Options Excluded | 2015 | 2014 | | 2013 | |
| Options to purchase shares of common stock | 2,611,367 | | 1,903,767 | | 1,273,527 |
| Weighted average exercise prices of options | $51.89 | | 54.67 | | 54.00 |
Table 60 after “Earnings before income taxes were derived from the following sources:”
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| 2015 | 2014 | | 2013 | |
| Domestic | $785,916 | | 757,896 | | 697,062 |
| Foreign | 40,104 | | 29,538 | | 16,406 |
| $826,020 | | 787,434 | | 713,468 |
Table 61 after “Components of income tax expense (benefit) were as follows:”
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| 2015 : | Current | Deferred | | Total | |
| Federal | $256,748 | | 7,362 | | 264,110 |
| State | 31,297 | | 227 | | 31,524 |
| Foreign | 13,677 | | 348 | | 14,025 |
| $301,722 | | 7,937 | | 309,659 |
Table 62 after “Components of income tax expense (benefit) were as follows:”
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| 2014 : | Current | Deferred | | Total | |
| Federal | $250,527 | | 1,919 | | 252,446 |
| State | 30,768 | | 256 | | 31,024 |
| Foreign | 10,518 | | (704) | | 9,814 |
| $291,813 | | 1,471 | | 293,284 |
Table 63 after “Components of income tax expense (benefit) were as follows:”
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| 2013 : | Current | Deferred | | Total | |
| Federal | $220,588 | | 8,547 | | 229,135 |
| State | 29,073 | | 527 | | 29,600 |
| Foreign | 7,487 | | (1,390) | | 6,097 |
| $257,148 | | 7,684 | | 264,832 |
Table 64 after “Income tax expense in the accompanying consolidated financial statements differed from the expected expense as follows:”
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| 2015 | 2014 | | 2013 | |
| Federal income tax expense at the ‘expected’ rate of 35% | $289,107 | | 275,602 | | 249,714 |
| Increase (decrease) attributed to: | | | | | |
| State income taxes, net of federal benefit | 21,613 | | 20,549 | | 16,683 |
| Other, net | (1,061) | | (2,867) | | (1,565) |
| Total income tax expense | $309,659 | | 293,284 | | 264,832 |
| Effective income tax rate | 37.5% | | 37.2% | | 37.1% |
Table 65 after “The tax effects of temporary differences that give rise to deferred income tax assets and liabilities at year end were as follows:”
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| 2015 | 2014 | |
| Deferred income tax assets (liabilities): | | | |
| Inventory costing and valuation methods | $4,556 | | 4,311 |
| Allowance for doubtful accounts receivable | 4,529 | | 4,873 |
| Insurance claims payable | 10,930 | | 10,404 |
| Promotions payable | 1,738 | | 1,586 |
| Stock-based compensation | 8,270 | | 7,837 |
| Federal and state benefit of uncertain tax positions | 1,911 | | 1,327 |
First 8 of 15 rows. The CSV has all of them.
Table 66 after “A reconciliation of the beginning and ending amount of total gross unrecognized tax benefits was as follows:”
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| 2015 | 2014 | |
| Balance at beginning of year: | $3,772 | | 3,282 |
| Increase related to prior year tax positions | 704 | | 185 |
| Decrease related to prior year tax positions | (43) | | (113) |
| Increase related to current year tax positions | 984 | | 924 |
| Decrease related to statute of limitation lapses | — | | (506) |
| Balance at end of year: | $5,417 | | 3,772 |
Table 67 after “Our revenues and long-lived assets related to the following geographic areas:”
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| Revenues | 2015 | 2014 | | 2013 | |
| United States | $3,441,141 | | 3,308,226 | | 2,951,673 |
| Canada | 223,270 | | 238,590 | | 227,756 |
| Other foreign countries | 204,776 | | 186,691 | | 146,677 |
| $3,869,187 | | 3,733,507 | | 3,326,106 |
Table 68 after “Our revenues and long-lived assets related to the following geographic areas:”
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| Long-Lived Assets | 2015 | 2014 | | 2013 | |
| United States | $821,063 | | 725,189 | | 632,783 |
| Canada | 32,290 | | 37,580 | | 22,572 |
| Other foreign countries | 14,333 | | 13,068 | | 11,968 |
| $867,686 | | 775,837 | | 667,323 |
Table 69 after “. We lease certain semi-tractors and pick-ups under operating leases. Future minimum annual rentals for the leased facilities and equipment,”
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| LeasedFacilities and Equipment | LeasedVehicles | | Total | |
| 2016 | $95,789 | | 27,599 | | 123,388 |
| 2017 | 68,833 | | 17,713 | | 86,546 |
| 2018 | 44,949 | | 7,827 | | 52,776 |
| 2019 | 24,486 | | 1,442 | | 25,928 |
| 2020 | 11,492 | | — | | 11,492 |
| 2021 and thereafter | 1,579 | | — | | 1,579 |
| $247,128 | | 54,581 | | 301,709 |
Table 70 after “Rent expense under all operating leases was as follows:”
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| LeasedFacilities and Equipment | LeasedVehicles | | Total | |
| 2015 | $105,961 | | 38,178 | | 144,139 |
| 2014 | $103,294 | | 35,731 | | 139,025 |
| 2013 | $99,483 | | 32,907 | | 132,390 |
Table 71 after “Debt obligations and undrawn letters of credit outstanding at year-end were as follows:”
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| 2015 | 2014 | |
| Outstanding loans under unsecured revolving credit facility | $350,000 | | 90,000 |
| Note | 15,000 | | — |
| Total debt | 365,000 | | 90,000 |
| Less: Current portion of debt | (62,050) | | (90,000) |
| Long-term debt | $302,950 | | — |
| Undrawn letters of credit under unsecured revolving credit facility - face amount | $36,266 | | 37,315 |
Table 72 after “Annual maturities of the note are as follows:”
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| Total |
| 2016 | $5,000 |
| 2017 | 10,000 |
| $15,000 |
Table 73 after “The percentages of our net sales by product line were as follows:”
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| Type | Introduced | 2015 | 2014 | 2013 |
| Fasteners(1) | 1967 | 38.3% | 40.2% | 42.1% |
| Tools | 1993 | 9.5% | 9.3% | 9.2% |
| Cutting tools | 1996 | 5.6% | 5.5% | 5.4% |
| Hydraulics & pneumatics | 1996 | 7.2% | 7.2% | 7.3% |
| Material handling | 1996 | 6.5% | 6.1% | 5.7% |
| Janitorial supplies | 1996 | 7.5% | 7.3% | 7.0% |
| Electrical supplies | 1997 | 4.7% | 4.7% | 4.6% |
First 8 of 15 rows. The CSV has all of them.
Table 74 after “(Amounts in thousands except per share information)”
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| 2015 : | Net Sales | GrossProfit | | Pre-taxEarnings | NetEarnings | Basic Net Earnings per Share | | Diluted Net Earnings per Share | | |
| First quarter | $953,317 | | 484,050 | | 203,512 | | 127,606 | | 0.43 | 0.43 |
| Second quarter | 997,827 | | 502,087 | | 225,099 | | 140,357 | | 0.48 | 0.48 |
| Third quarter | 995,250 | | 502,225 | | 219,204 | | 136,494 | | 0.47 | 0.47 |
| Fourth quarter | 922,793 | | 460,572 | | 178,205 | | 111,904 | | 0.39 | 0.39 |
| Total | $3,869,187 | | 1,948,934 | | 826,020 | | 516,361 | | 1.77 | 1.77 |
Table 75 after “(Amounts in thousands except per share information)”
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| 2014 : | Net Sales | GrossProfit | | Pre-taxEarnings | NetEarnings | Basic NetEarnings perShare | | Diluted Net Earnings per Share | | |
| First quarter | $876,501 | | 448,478 | | 178,845 | | 111,931 | | 0.38 | 0.38 |
| Second quarter | 949,938 | | 482,667 | | 206,782 | | 130,514 | | 0.44 | 0.44 |
| Third quarter | 980,814 | | 498,693 | | 212,988 | | 133,314 | | 0.45 | 0.45 |
| Fourth quarter | 926,254 | | 467,564 | | 188,819 | | 118,391 | | 0.40 | 0.40 |
| Total | $3,733,507 | | 1,897,402 | | 787,434 | | 494,150 | | 1.67 | 1.66 |
Table 76 after “Equity Compensation Plan Information”
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| Plan Category | Number of Securities tobe Issued Upon Exerciseof Outstanding Options,Warrants, and Rights | Weighted-Average ExercisePrice of OutstandingOptions, Warrants, andRights | Number of SecuritiesRemaining Available forFuture Issuance UnderEquity CompensationPlans (ExcludingSecurities Reflected inColumn (a)) |
| (a) | (b) | (c) |
| Equity compensation plans approved by security holders | 4,530,982 | $41.49 | 6,120,700 |
| Equity compensation plans not approved by security holders | — | — | — |
| Total | 4,530,982 | | 6,120,700 |
| 3.1 | Restated Articles of Incorporation of Fastenal Company, as amended effective as of April 17, 2012 (incorporated by reference to Exhibit 3.1 to Fastenal Company’s Form 10-Q for the quarter ended March 31, 2012) |
| 3.2 | Restated By-Laws of Fastenal Company (incorporated by reference to Exhibit 3.2 to Fastenal Company’s Form 8-K dated as of October 15, 2010 (file no. 000-16125)) |
| 10.1 | Description of Bonus Arrangements for Executive Officers (incorporated by reference to the information appearing under the heading ‘Executive Compensation – Compensation Discussion and Analysis’ in the Proxy Statement)* |
| 10.2 | Fastenal Company Stock Option Plan as amended and restated effective as of December 12, 2014 (incorporated by reference to Exhibit 10.1 to Fastenal Company’s Form 8-K dated December 17, 2014)* |
| 10.3 | Fastenal Company Incentive Plan (incorporated by reference to Appendix A to Fastenal Company’s Proxy Statement dated February 23, 2012)* |
| 10.4 | Credit Agreement dated as of May 1, 2015 among Fastenal Company, the Lenders from time to time party thereto, and Wells Fargo Bank, National Association, as Administrative Agent, Swingline Lender and Issuing Lender (incorporated by reference to Exhibit 10.1 to Fastenal Company's Form 8-K dated May 5, 2015), as amended by the First Amendment to Credit Agreement dated as of November 23, 2015 (incorporated by reference to Exhibit 10.1 to Fastenal Company's Form 8-K dated November 25, 2015) |
| 13 | Portions of 2015 Annual Report to Shareholders not included in this Form 10-K (only those sections specifically incorporated by reference in this Form 10-K shall be deemed filed with the SEC) |
| 21 | List of Subsidiaries |
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| Description | Balance atBeginningof Year | “Additions”Charged toCosts andExpenses | | “Other”Additions(Deductions) | | “Less”Deductions | Balanceat Endof Year | | | |
| Year ended December 31, 2015 | | | | | | | | | | |
| Allowance for doubtful accounts | $12,619 | | 8,769 | | | — | | 9,659 | | 11,729 |
| Insurance reserves | $31,137 | | 54,341 | | (1) | — | | 53,657 | (2) | 31,821 |
| Year ended December 31, 2014 | | | | | | | | | | |
| Allowance for doubtful accounts | $9,248 | | 11,480 | | | — | | 8,109 | | 12,619 |
| Insurance reserves | $30,880 | | 52,858 | | (1) | — | | 52,601 | (2) | 31,137 |
| Year ended December 31, 2013 | | | | | | | | | | |
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| 3.1 | Restated Articles of Incorporation of Fastenal Company, as amended | Incorporated by Reference |
| 3.2 | Restated By-Laws of Fastenal Company | Incorporated by Reference |
| 10.1 | Description of Bonus Arrangements for Executive Officers | Incorporated by Reference |
| 10.2 | Fastenal Company Stock Option Plan as amended and restated effective as of December 12, 2014 | Incorporated by Reference |
| 10.3 | Fastenal Company Incentive Plan | Incorporated by Reference |
| 10.4 | Credit Agreement dated as of May 1, 2015 among Fastenal Company, the Lenders from time to time party thereto, and Wells Fargo Bank, National Association, as Administrative Agent, Swingline Lender and Issuing Lender, as amended by the First Amendment to Credit Agreement dated as of November 23, 2015 | Incorporated by Reference |
| 13 | Portions of 2015 Annual Report to Shareholders not included in this Form 10-K (only those sections specifically incorporated by reference in this Form 10-K shall be deemed filed with the SEC) | Electronically Filed |
| 21 | List of Subsidiaries | Electronically Filed |
First 8 of 17 rows. The CSV has all of them.