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v3.23.2

Note 6 - Investments in Joint Ventures (Tables) | 9 Months Ended
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May 31, 2023
Notes Tables |
Condensed Balance Sheet [Table Text Block] |
|  | As of May 31, 2023 |
|  | Total |  |  | EXCOR |  |  | All Other |
Current assets |  | $ | 55,424,661 |  |  | $ | 26,845,344 |  |  | $ | 28,579,317 |
Total assets |  |  | 59,769,982 |  |  |  | 28,974,034 |  |  |  | 30,795,948 |
Current liabilities |  |  | 13,229,032 |  |  |  | 3,008,256 |  |  |  | 10,220,776 |
Noncurrent liabilities |  |  | 300,142 |  |  |  | - |  |  |  | 300,142 |
Joint ventures’ equity |  |  | 46,240,808 |  |  |  | 25,965,777 |  |  |  | 20,275,031 |
Northern Technologies International Corporation’s share of joint ventures’ equity |  |  | 22,855,448 |  |  |  | 12,982,891 |  |  |  | 9,872,553 |
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 May 31, 2023 |
|  | Total |  |  | EXCOR |  |  | All Other |
Net sales |  | $ | 26,312,548 |  |  | $ | 10,735,862 |  |  | $ | 15,576,686 |
Gross profit |  |  | 10,494,244 |  |  |  | 5,085,837 |  |  |  | 5,408,407 |
Net income |  |  | 2,692,444 |  |  |  | 1,654,151 |  |  |  | 1,038,293 |
Northern Technologies International Corporation’s share of equity in income from joint ventures |  |  | 1,346,658 |  |  |  | 828,631 |  |  |  | 518,027 |
Northern Technologies International Corporation’s dividends received from joint ventures |  |  | 45,977 |  |  |  | — |  |  |  | 45,977 |
|  | Nine Months Ended May 31, 2023 |
|  | Total |  |  | EXCOR |  |  | All Other |
Net sales |  | $ | 76,525,427 |  |  | $ | 30,590,265 |  |  | $ | 45,935,162 |
Gross profit |  |  | 30,223,623 |  |  |  | 14,539,314 |  |  |  | 15,684,309 |
Net income |  |  | 7,308,398 |  |  |  | 4,761,608 |  |  |  | 2,546,790 |
Northern Technologies International Corporation’s share of equity in income from joint ventures |  |  | 3,664,793 |  |  |  | 2,376,575 |  |  |  | 1,288,218 |
Northern Technologies International Corporation’s dividends received from joint ventures |  |  | 3,510,716 |  |  |  | 2,459,500 |  |  |  | 1,051,216 |
|  | Three Months Ended May 31, 2022 |
|  | Total |  |  | EXCOR |  |  | All Other |
Net sales |  | $ | 26,594,077 |  |  | $ | 10,397,916 |  |  | $ | 16,196,160 |
Gross profit |  |  | 10,626,570 |  |  |  | 4,990,697 |  |  |  | 5,635,873 |
Net income |  |  | 2,714,979 |  |  |  | 1,654,389 |  |  |  | 1,060,590 |
Northern Technologies International Corporation’s share of equity in income from joint ventures |  |  | 1,364,597 |  |  |  | 824,784 |  |  |  | 539,813 |
Northern Technologies International Corporation’s dividends received from joint ventures |  |  | 252,000 |  |  |  | — |  |  |  | 252,000 |
|  | Nine Months Ended May 31, 2022 |
|  | Total |  |  | EXCOR |  |  | All Other |
Net sales |  | $ | 78,218,839 |  |  | $ | 31,010,578 |  |  | $ | 47,208,261 |
Gross profit |  |  | 31,504,531 |  |  |  | 15,118,133 |  |  |  | 16,386,398 |
Net income |  |  | 7,344,175 |  |  |  | 4,646,123 |  |  |  | 2,698,052 |
Northern Technologies International Corporation’s share of equity in income from joint ventures |  |  | 3,662,178 |  |  |  | 2,324,605 |  |  |  | 1,337,572 |
Northern Technologies International Corporation’s dividends received from joint ventures |  |  | 5,723,176 |  |  |  | 4,255,200 |  |  |  | 1,467,976 |

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