XML 44 R31.htm IDEA: XBRL DOCUMENT

Note 6 - Investments in Joint Ventures (Tables)

12 Months Ended

Aug. 31, 2021

Notes Tables

Condensed Balance Sheet [Table Text Block]

		As of August 31, 2021
		Total				EXCOR				OTHER
Current assets		$	69,394,796			$	33,886,655			$	35,508,141
Total assets			73,814,402				36,211,520				37,602,882
Current liabilities			16,366,398				5,386,377				10,980,021
Noncurrent liabilities			1,455,524				-				1,455,524
Joint ventures’ equity			55,992,480				30,825,144				25,167,336
Northern Technologies International Corporation’s share of joint ventures’ equity			27,623,768				15,412,574				12,211,194
Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings			24,702,778				14,697,490				10,005,288

		As of August 31, 2020
		Total				EXCOR				FRANCE				FINLAND				INDIA				THAILAND				OTHER
Current assets		$	55,825,418			$	25,742,619			$	4,099,160			$	1,955,879			$	4,010,855			$	4,022,399			$	15,994,506
Total assets			60,295,587				28,449,772				4,873,484				2,261,147				4,242,660				4,055,451				16,413,073
Current liabilities			11,002,867				2,424,565				2,073,710				415,496				1,007,529				993,332				4,088,235
Noncurrent liabilities			365,274				—				—				—				32,999				—				332,275
Joint ventures’ equity			48,927,446				26,025,207				2,799,774				1,845,651				3,202,132				3,062,119				11,992,563
Northern Technologies International Corporation’s share of joint ventures’ equity			24,090,826				13,012,606				1,399,887				922,814				1,603,013				1,531,060				5,621,446
Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings			21,855,747				12,981,701				1,399,887				902,814				738,191				1,429,060				4,404,094

Condensed Income Statement [Table Text Block]

		Fiscal Year Ended August 31, 2021
		Total				EXCOR				OTHER
Net sales		$	120,954,550			$	46,522,688			$	74,431,862
Gross profit			53,371,610				25,389,981				27,981,629
Net income			14,921,531				8,798,995				6,122,536
Northern Technologies International Corporation’s share of equity in income of joint ventures			7,465,214				4,400,403				3,064,811
Northern Technologies International Corporation’s dividends received from joint ventures			3,665,365				1,809,900				1,855,465

		Fiscal Year Ended August 31, 2020
		Total				EXCOR				FRANCE				FINLAND				INDIA				THAILAND				OTHER
Net sales		$	87,030,062			$	32,546,402			$	8,133,294			$	3,088,865			$	5,481,303			$	6,471,831			$	31,308,367
Gross profit			39,532,750				18,739,471				3,061,433				1,916,001				2,498,196				2,046,478				11,271,171
Net income			8,545,473				5,266,541				473,137				419,728				697,349				503,884				1,184,834
Northern Technologies International Corporation’s share of equity in income of joint ventures			4,270,327				2,622,423				237,490				209,972				349,218				253,192				598,032
Northern Technologies International Corporation’s dividends received from joint ventures			5,672,099				4,675,850				—				325,635				261,220				160,074				249,320