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v3.22.2.2

Note 7 - Investments in Joint Ventures (Tables) | 12 Months Ended
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Aug. 31, 2022
Notes Tables |
Condensed Balance Sheet [Table Text Block] |
|  | As of August 31, 2022 |
|  | Total |  |  | EXCOR |  |  | OTHER |
Current assets |  | $ | 52,428,831 |  |  | $ | 26,047,914 |  |  | $ | 26,380,917 |
Total assets |  |  | 55,854,457 |  |  |  | 27,932,532 |  |  |  | 27,921,925 |
Current liabilities |  |  | 10,981,833 |  |  |  | 2,943,895 |  |  |  | 8,037,938 |
Noncurrent liabilities |  |  | 1,138,980 |  |  |  | - |  |  |  | 1,138,980 |
Joint ventures’ equity |  |  | 43,733,644 |  |  |  | 24,988,637 |  |  |  | 18,745,007 |
Northern Technologies International Corporation’s share of joint ventures’ equity |  |  | 21,814,754 |  |  |  | 12,494,320 |  |  |  | 9,320,434 |
Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings |  |  | 21,256,923 |  |  |  | 12,463,415 |  |  |  | 8,793,508 |
|  | As of August 31, 2021 |
|  | Total |  |  | EXCOR |  |  | OTHER(1) |
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 |
Condensed Income Statement [Table Text Block] |
|  | Fiscal Year Ended August 31, 2022 |
|  | Total |  |  | EXCOR |  |  | OTHER |
Net sales |  | $ | 104,077,748 |  |  | $ | 42,853,162 |  |  | $ | 61,224,586 |
Gross profit |  |  | 41,030,647 |  |  |  | 20,312,400 |  |  |  | 20,718,247 |
Net income |  |  | 9,302,237 |  |  |  | 6,487,855 |  |  |  | 2,814,382 |
Northern Technologies International Corporation’s share of equity in income of joint ventures |  |  | 4,725,918 |  |  |  | 3,236,989 |  |  |  | 1,488,929 |
Northern Technologies International Corporation’s dividends received from joint ventures |  |  | 5,723,176 |  |  |  | 4,255,200 |  |  |  | 1,467,976 |
|  | Fiscal Year Ended August 31, 2021 |
|  | Total |  |  | EXCOR |  |  | OTHER(1) |
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 |

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