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v3.23.1

Note 6 - Investments in Joint Ventures (Tables) | 6 Months Ended
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Feb. 28, 2023
Notes Tables |
Condensed Balance Sheet [Table Text Block] |
|  | As of February 28, 2023 |
|  | Total |  |  | EXCOR |  |  | All Other |
Current assets |  | $ | 54,425,899 |  |  | $ | 25,538,114 |  |  | $ | 28,887,785 |
Total assets |  |  | 57,924,227 |  |  |  | 27,376,219 |  |  |  | 30,548,008 |
Current liabilities |  |  | 14,002,680 |  |  |  | 3,163,365 |  |  |  | 10,839,315 |
Noncurrent liabilities |  |  | 346,645 |  |  |  | - |  |  |  | 346,645 |
Joint ventures’ equity |  |  | 43,574,902 |  |  |  | 24,212,854 |  |  |  | 19,362,048 |
Northern Technologies International Corporation’s share of joint ventures’ equity |  |  | 21,522,496 |  |  |  | 12,106,429 |  |  |  | 9,416,067 |
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 |  |  | All 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] |
|  | Three Months Ended February 28, 2023 |
|  | Total |  |  | EXCOR |  |  | All Other |
Net sales |  | $ | 25,482,590 |  |  | $ | 9,708,482 |  |  | $ | 15,774,108 |
Gross profit |  |  | 10,035,811 |  |  |  | 4,733,435 |  |  |  | 5,302,376 |
Net income |  |  | 1,969,046 |  |  |  | 1,365,170 |  |  |  | 603,876 |
Northern Technologies International Corporation’s share of equity in income from joint ventures |  |  | 1,128,731 |  |  |  | 676,800 |  |  |  | 451,931 |
Northern Technologies International Corporation's dividends received from joint ventures |  |  | 422,048 |  |  |  | — |  |  |  | 422,048 |
|  | Six Months Ended February 28, 2023 |
|  | Total |  |  | EXCOR |  |  | All Other |
Net sales |  | $ | 50,212,879 |  |  | $ | 19,854,403 |  |  | $ | 30,358,476 |
Gross profit |  |  | 19,729,379 |  |  |  | 9,453,477 |  |  |  | 10,275,902 |
Net income |  |  | 4,615,954 |  |  |  | 3,107,457 |  |  |  | 1,508,497 |
Northern Technologies International Corporation’s share of equity in income from joint ventures |  |  | 2,318,135 |  |  |  | 1,547,944 |  |  |  | 770,191 |
Northern Technologies International Corporation's dividends received from joint ventures |  | $ | 3,464,736 |  |  | $ | 2,459,500 |  |  | $ | 1,005,236 |
|  | Three Months Ended February 28, 2022 |
|  | Total |  |  | EXCOR |  |  | All Other |
Net sales |  | $ | 24,601,767 |  |  | $ | 9,312,434 |  |  | $ | 15,289,333 |
Gross profit |  |  | 9,845,002 |  |  |  | 4,658,450 |  |  |  | 5,186,552 |
Net income |  |  | 1,851,591 |  |  |  | 1,170,187 |  |  |  | 681,404 |
Northern Technologies International Corporation’s share of equity in income from joint ventures |  |  | 922,832 |  |  |  | 589,048 |  |  |  | 333,784 |
Northern Technologies International Corporation's dividends received from joint ventures |  | $ | 320,365 |  |  |  | — |  |  | $ | 320,365 |
|  | Six Months Ended February 28, 2022 |
|  | Total |  |  | EXCOR |  |  | All Other |
Net sales |  | $ | 51,624,762 |  |  | $ | 20,612,662 |  |  | $ | 31,012,100 |
Gross profit |  |  | 20,877,961 |  |  |  | 10,127,436 |  |  |  | 10,750,525 |
Net income |  |  | 4,629,196 |  |  |  | 2,991,734 |  |  |  | 1,637,462 |
Northern Technologies International Corporation’s share of equity in income from joint ventures |  |  | 2,297,581 |  |  |  | 1,499,821 |  |  |  | 797,760 |
Northern Technologies International Corporation's dividends received from joint ventures |  | $ | 5,362,636 |  |  | $ | 4,255,200 |  |  | $ | 1,107,436 |

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