Note 6 - Investments in Joint Ventures (Tables)

6 Months Ended

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