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Note 6 - Investments in Joint Ventures (Tables) | 12 Months Ended
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Aug. 31, 2023
Notes Tables |
Condensed Balance Sheet [Table Text Block] |
|  | As of August 31, 2023 |
|  | Total |  |  | EXCOR |  |  | OTHER |
Current assets |  | $ | 55,339,662 |  |  | $ | 27,862,458 |  |  | $ | 27,477,204 |
Total assets |  |  | 59,729,348 |  |  |  | 30,054,277 |  |  |  | 29,675,071 |
Current liabilities |  |  | 11,464,247 |  |  |  | 2,687,064 |  |  |  | 8,777,183 |
Noncurrent liabilities |  |  | 323,762 |  |  |  | - |  |  |  | 323,762 |
Joint ventures’ equity |  |  | 47,941,339 |  |  |  | 27,367,213 |  |  |  | 20,574,126 |
Northern Technologies International Corporation’s share of joint ventures’ equity |  |  | 23,705,714 |  |  |  | 13,683,608 |  |  |  | 10,022,106 |
Northern Technologies International Corporation’s share of joint ventures’ undistributed earnings |  |  | 20,493,861 |  |  |  | 12,075,524 |  |  |  | 8,418,337 |
|  | 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 |
Condensed Income Statement [Table Text Block] |
|  | Fiscal Year Ended August 31, 2023 |
|  | Total |  |  | EXCOR |  |  | OTHER |
Net sales |  | $ | 100,682,316 |  |  | $ | 39,642,380 |  |  | $ | 61,039,936 |
Gross profit |  |  | 40,096,561 |  |  |  | 19,016,389 |  |  |  | 21,080,172 |
Net income |  |  | 8,934,198 |  |  |  | 5,730,311 |  |  |  | 3,203,887 |
Northern Technologies International Corporation’s share of equity in income of joint ventures |  |  | 6,452,719 |  |  |  | 2,852,229 |  |  |  | 3,600,490 |
Northern Technologies International Corporation’s dividends received from joint ventures |  |  | 5,639,198 |  |  |  | 2,459,500 |  |  |  | 3,179,698 |
|  | 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 |

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