3 unchanged sentences
(Amounts in millions except share and per share information)
−Removed: Assets June 30,
+Added: Assets September 30,
2025 December 31,
38 unchanged sentences
(Amounts in millions except income per share)
−Removed: Six Months Ended
−Removed: June 30, Three Months Ended
+Added: Nine Months Ended
+Added: September 30, Three Months Ended
+Added: September 30,
2025 2024 2025 2024
17 unchanged sentences
(Amounts in millions)
−Removed: Six Months Ended
−Removed: June 30, Three Months Ended
+Added: Nine Months Ended
+Added: September 30, Three Months Ended
+Added: September 30,
2025 2024 2025 2024
7 unchanged sentences
(Amounts in millions except per share information)
−Removed: Six Months Ended
−Removed: June 30, Three Months Ended
+Added: Nine Months Ended
+Added: September 30, Three Months Ended
+Added: September 30,
2025 2024 2025 2024
21 unchanged sentences
(Amounts in millions)
−Removed: Six Months Ended
−Removed: June 30, Three Months Ended
+Added: Nine Months Ended
+Added: September 30, Three Months Ended
+Added: September 30,
2025 2024 2025 2024
29 unchanged sentences
Effect of exchange rate changes on cash and cash equivalents 10.3 1.0 ( 0.9 ) 6.4
−Removed: Net (decrease) increase in cash and cash equivalents ( 18.0 ) 34.2 6.0 18.4
+Added: Net increase in cash and cash equivalents 32.3 70.9 50.3 36.7
Cash and cash equivalents at beginning of period 255.8 221.3 237.8 255.5
8 unchanged sentences
(Amounts in millions except share and per share information and where otherwise noted)
−Removed: June 30, 2025 and 2024
+Added: September 30, 2025 and 2024
(1) Basis of Presentation
32 unchanged sentences
(Amounts in millions except share and per share information and where otherwise noted)
−Removed: June 30, 2025 and 2024
+Added: September 30, 2025 and 2024
Disaggregation of Revenue
Revenues are attributable to countries based on the selling location from which the sale occurred.
−Removed: Our revenues related to the following geographic areas were as follows for the periods ended June 30:
−Removed: Six-month Period Three-month Period
+Added: Our revenues related to the following geographic areas were as follows for the periods ended September 30:
+Added: Nine-month Period Three-month Period
2025 2024 2025 2024
6 unchanged sentences
Total revenues $ 6,173.1 5,721.5 $ 2,133.3 1,910.2
−Removed: The percentages of our sales by end market were as follows for the periods ended June 30:
−Removed: Six-month Period Three-month Period
+Added: The percentages of our sales by end market were as follows for the periods ended September 30:
+Added: Nine-month Period Three-month Period
2025 2024 2025 2024
3 unchanged sentences
100.0 % 100.0 % 100.0 % 100.0 %
−Removed: The percentages of our sales by product line were as follows for the periods ended June 30:
−Removed: Six-month Period Three-month Period
+Added: The percentages of our sales by product line were as follows for the periods ended September 30:
+Added: Nine-month Period Three-month Period
Type Introduced 2025 2024 2025 2024
15 unchanged sentences
(Amounts in millions except share and per share information and where otherwise noted)
−Removed: June 30, 2025 and 2024
+Added: September 30, 2025 and 2024
(3) Stockholders' Equity
−Removed: On July 11, 2025, our board of directors declared a quarterly dividend of $ 0.22 per share of common stock to be paid in cash on August 26, 2025 to shareholders of record at the close of business on July 29, 2025.
−Removed: The following table presents the cash dividends either paid previously or declared by our board of directors for future payment on a per share basis:
+Added: On October 10, 2025, our board of directors declared a quarterly dividend of $ 0.22 per share of common stock to be paid in cash on November 25, 2025 to shareholders of record at the close of business on October 28, 2025.
+Added: The following table presents the cash dividends either paid previously or declared by our board of directors for future payment on a per share basis during 2025 and 2024:
First quarter $ 0.215 $ 0.195
4 unchanged sentences
Stock Options
−Removed: The following tables summarize the details of options granted under our stock option plans that were outstanding as of June 30, 2025, and the assumptions used to value those grants.
+Added: The following tables summarize the details of options granted under our stock option plans that were outstanding as of September 30, 2025, and the assumptions used to value those grants.
All such grants were effective at the close of business on the grant date.
Granted Option Exercise
−Removed: Price Closing Stock Price on Grant Date June 30, 2025
+Added: Price Closing Stock Price on Grant Date September 30, 2025
Date of Grant Options
28 unchanged sentences
(Amounts in millions except share and per share information and where otherwise noted)
−Removed: June 30, 2025 and 2024
+Added: September 30, 2025 and 2024
All of the options in the tables above vest and become exercisable over a period of up to eight years .
−Removed: Generally, each option will terminate approximately 10 years after the grant date.
+Added: Each option will terminate approximately 10 years after the grant date.
The fair value of each share-based option is estimated on the grant date using a Black-Scholes valuation method that uses the assumptions listed above.
2 unchanged sentences
The dividend yield is estimated over the expected life of the option based on our current dividend payout, historical dividends paid, and expected future cash dividends.
−Removed: Expected stock volatilities are based on the movement of our stock price over the most recent historical period equivalent to the expected life of the option.
+Added: Expected stock volatility is based on the movement of our stock price over the most recent historical period equivalent to the expected life of the option.
Compensation expense equal to the grant date fair value is recognized for all of these awards over the vesting period.
−Removed: The stock-based compensation expense for the six-month periods ended June 30, 2025 and 2024 was $ 4.1 and $ 4.0 , respectively, while the second quarter of 2025 and 2024 was $ 2.0 and $ 2.0 , respectively.
+Added: The stock-based compensation expense for the nine-month periods ended September 30, 2025 and 2024 was $ 6.2 and $ 6.0 , respectively, while the third quarter of 2025 and 2024 was $ 2.1 and $ 2.0 , respectively.
There is no incremental stock-based compensation expense as a result of the stock split described in Note 1.
−Removed: Unrecognized stock-based compensation expense related to outstanding unvested stock options as of June 30, 2025 was $ 23.5 and is expected to be recognized over a weighted average period of 4.29 years.
+Added: Unrecognized stock-based compensation expense related to outstanding unvested stock options as of September 30, 2025 was $ 21.7 and is expected to be recognized over a weighted average period of 4.12 years.
Any future changes in estimated forfeitures will impact this amount.
1 unchanged sentence
The following tables present a reconciliation of the denominators used in the computation of basic and diluted net income per share and a summary of the options to purchase shares of common stock which were excluded from the diluted net income per share calculation because they were anti-dilutive:
−Removed: Six-month Period Three-month Period
+Added: Nine-month Period Three-month Period
Reconciliation 2025 2024 2025 2024
2 unchanged sentences
Diluted weighted average shares outstanding 1,150,252,016 1,148,271,852 1,151,036,631 1,148,367,322
−Removed: Six-month Period Three-month Period
+Added: Nine-month Period Three-month Period
Summary of Anti-dilutive Options Excluded 2025 2024 2025 2024
8 unchanged sentences
During the first six months of 2025, there were no material changes in unrecognized tax benefits.
+Added: During the third quarter of 2025, the liability for unrecognized tax benefits decreased by $ 6.1 due to new information impacting prior year positions.
On July 4, 2025, the U.S.
−Removed: 1 "A bill to provide for reconciliation pursuant to Title II of H.
−Removed: 14", commonly referred to as the One Big Beautiful Bill Act (OBBBA).
−Removed: Changes in tax laws may affect recorded deferred tax assets and deferred tax liabilities and our effective tax rate in the future and we continue to evaluate the impacts the new legislation will have on the Condensed Consolidated Financial Statements.
−Removed: As a result of the enactment of H.R.
−Removed: 1, we anticipate an impact to the deferred tax liability and the income tax payable related to the provisions for 100% bonus depreciation for assets placed in service after January 19, 2025 and full expensing of domestic research and experimental expenditures.
−Removed: We do not expect any material change to our ongoing tax rate as a result of this legislation.
−Removed: FASTENAL COMPANY
−Removed: Notes to Condensed Consolidated Financial Statements
−Removed: (Amounts in millions except share and per share information and where otherwise noted)
−Removed: June 30, 2025 and 2024
+Added: enacted the One Big Beautiful Bill Act (OBBBA).
+Added: The impact of the OBBBA enactment is immaterial to our Condensed Consolidated Financial Statements.
(5) Operating Leases
2 unchanged sentences
We believe the likelihood of funding the guarantee obligation under any provision of the operating lease agreements is remote.
+Added: FASTENAL COMPANY
+Added: Notes to Condensed Consolidated Financial Statements
+Added: (Amounts in millions except share and per share information and where otherwise noted)
+Added: September 30, 2025 and 2024
(6) Debt Commitments
1 unchanged sentence
Debt obligations and letters of credit outstanding at the end of each period consisted of the following:
−Removed: Average Interest Rate at June 30, 2025
+Added: Average Interest Rate at September 30, 2025
Debt Outstanding
−Removed: Date June 30,
+Added: Date September 30,
2025 December 31,
9 unchanged sentences
Unsecured Revolving Credit Facility
−Removed: We have an $ 835.0 committed unsecured revolving credit facility (the Credit Facility) with an uncommitted accordion option to increase the aggregate revolving commitment by an additional $ 365.0 for a total amount of $ 1,200.0 .
+Added: We have an $ 835.0 committed unsecured revolving credit facility (the Credit Facility) with an uncommitted accordion option to increase the aggregate revolving commitment by an additional $ 365.0 for a total of $ 1,200.0 .
The Credit Facility includes a committed letter of credit subfacility of $ 55.0 .
4 unchanged sentences
We pay a commitment fee for the unused portion of the Credit Facility.
−Removed: This fee is either 0.10 % or 0.125 % per annum based on our usage of the Credit Facility.
+Added: This fee is either 0.10 % or 0.125 % per annum based on our use of the Credit Facility.
Senior Unsecured Promissory Notes Payable
−Removed: We have issued senior unsecured promissory notes under our master note agreement (the Master Note Agreement) in the aggregate principal amount of $ 125.0 as of June 30, 2025.
+Added: We have issued senior unsecured promissory notes under our master note agreement (the Master Note Agreement) in the aggregate principal amount of $ 125.0 as of September 30, 2025.
Our aggregate borrowing capacity under the Master Note Agreement is $ 900.0 ;
6 unchanged sentences
Discrete financial information is available at the geographic region level through our internal Return on Asset (ROA) reporting.
−Removed: The ROA reporting is ultimately a selling location income
+Added: The ROA reporting is ultimately a selling location income statement with an ROA calculation and the results are compiled by geographic region.
+Added: ROA pre-tax profit measures financial performance and drives compensation programs.
FASTENAL COMPANY
1 unchanged sentence
(Amounts in millions except share and per share information and where otherwise noted)
−Removed: June 30, 2025 and 2024
−Removed: statement with an ROA calculation and the results are compiled by geographic region.
−Removed: ROA pre-tax profit measures financial performance and drives compensation programs.
+Added: September 30, 2025 and 2024
Our Chief Operating Decision Maker (CODM) is a group consisting of our Chief Executive Officer and President/Chief Sales Officer.
10 unchanged sentences
ROA pre-tax profit is not a financial measure calculated in accordance with GAAP and excludes inter-company transactions.
−Removed: The following table presents reportable segment net sales from external customers for the periods ended June 30:
−Removed: Six-month Period Three-month Period
+Added: The following table presents reportable segment net sales from external customers for the periods ended September 30:
+Added: Nine-month Period Three-month Period
2025 2024 2025 2024
net sales from external customers $ 5,140.1 4,760.2 $ 1,777.9 1,587.2
−Removed: The following table presents a reconciliation of reportable segment ROA pre-tax profit to consolidated income before income taxes for the periods ended June 30:
−Removed: Six-month Period Three-month Period
+Added: The following table presents a reconciliation of reportable segment ROA pre-tax profit to consolidated income before income taxes for the periods ended September 30:
+Added: Nine-month Period Three-month Period
2025 2024 2025 2024
5 unchanged sentences
The following table presents reportable segment ROA assets for the periods ended:
+Added: September 30,
2025 December 31,
4 unchanged sentences
Interest revenue and interest expense included in the ROA pre-tax profit are not material.
−Removed: The following table presents reportable segment ROA pre-tax profit depreciation and amortization expense for the periods ended June 30:
−Removed: Six-month Period Three-month Period
+Added: The following table presents reportable segment ROA pre-tax profit depreciation and amortization expense for the periods ended September 30:
+Added: Nine-month Period Three-month Period
2025 2024 2025 2024
ROA pre-tax profit depreciation and amortization expense $ 121.8 110.5 $ 41.1 37.8
+Added: (8) Legal Contingencies
+Added: The nature of our potential exposure to legal contingencies is described in our 2024 annual report on Form 10-K in Note 11 of the Notes to Consolidated Financial Statements.
+Added: As of September 30, 2025, there were no litigation matters that we consider to be probable or reasonably possible to have a material adverse impact on our Condensed Consolidated Financial Statements.
FASTENAL COMPANY
1 unchanged sentence
(Amounts in millions except share and per share information and where otherwise noted)
−Removed: June 30, 2025 and 2024
−Removed: (8) Legal Contingencies
−Removed: The nature of our potential exposure to legal contingencies is described in our 2024 annual report on Form 10-K in Note 11 of the Notes to Consolidated Financial Statements.
−Removed: As of June 30, 2025, there were no litigation matters that we consider to be probable or reasonably possible to have a material adverse outcome.
+Added: September 30, 2025 and 2024
(9) Subsequent Events
−Removed: We evaluated all subsequent event activity and concluded that no subsequent events have occurred that would require recognition in the Condensed Consolidated Financial Statements or disclosure in the Notes to Condensed Consolidated Financial Statements, with the exception of the dividend declaration disclosed in Note 3 'Stockholders' Equity' and the new tax legislation disclosed in Note 4 ' Income Taxes'.
+Added: We evaluated all subsequent event activity and concluded that no subsequent events have occurred that would require recognition in the Condensed Consolidated Financial Statements or disclosure in the Notes to Condensed Consolidated Financial Statements, with the exception of the dividend declaration disclosed in Note 3 'Stockholders' Equity'.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.