| Equity Method Investments and Joint Ventures Disclosure [Text Block] |
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7.
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INVESTMENTS IN JOINT VENTURES
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The consolidated financial statements of the Company’s foreign joint ventures are initially prepared using the accounting principles accepted in the respective joint ventures’ countries of domicile. Amounts related to foreign joint ventures reported in the below tables and the accompanying consolidated financial statements have subsequently been adjusted to conform with U.S. GAAP in all material respects. All material profits on sales recorded that remain on the consolidated balance sheet from the Company to its joint ventures and from joint ventures to other joint ventures have been eliminated for financial reporting purposes.
Financial information from the audited and unaudited financial statements of the Company’s joint ventures in Germany, Excor Korrosionsschutz – Technologien und Produkte GmbH (EXCOR), France, ACOBAL SAS (Acobal), Finland, Zerust OY (Zerust OY), Sweden, ZERUST AB (Zerust AB) and Thailand, ZERUST Specialty Tech Co. LTD. (Spec Tech) and all the Company’s other joint ventures are summarized as follows:
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As of May 31, 2026
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Total
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EXCOR
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Acobal
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Zerust OY
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Zerust AB
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Spec Tech
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Other
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Current assets
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$ |
65,742,210 |
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|
$ |
33,104,791 |
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|
$ |
7,711,013 |
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|
$ |
3,283,426 |
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$ |
1,652,363 |
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$ |
5,411,859 |
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$ |
14,578,758 |
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Total assets
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75,173,163 |
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39,993,690 |
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8,593,203 |
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3,536,844 |
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1,667,235 |
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5,622,605 |
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15,759,586 |
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Current liabilities
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13,640,471 |
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2,196,193 |
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2,949,776 |
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1,018,813 |
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|
692,260 |
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1,793,484 |
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4,989,945 |
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Non-current liabilities
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322,337 |
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— |
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— |
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— |
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— |
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224,448 |
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|
97,889 |
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Joint ventures’ equity
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61,210,354 |
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37,797,497 |
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5,643,426 |
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2,518,031 |
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974,976 |
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3,604,673 |
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10,671,751 |
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NTIC’s share of joint ventures’ equity
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30,360,084 |
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18,898,750 |
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2,821,711 |
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1,259,004 |
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497,017 |
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1,802,337 |
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5,081,265 |
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NTIC’s share of joint ventures’ undistributed earnings
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29,415,417 |
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18,867,845 |
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2,821,711 |
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1,239,004 |
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477,017 |
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1,700,337 |
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4,309,503 |
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Three Months Ended May 31, 2026
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Total
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EXCOR
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Acobal
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Zerust OY
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Zerust AB
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Spec Tech
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Other
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Net sales
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$ |
26,707,572 |
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$ |
9,480,910 |
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$ |
3,691,757 |
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$ |
1,438,124 |
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$ |
1,627,801 |
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$ |
2,279,040 |
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$ |
8,189,940 |
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Gross profit
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11,384,037 |
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4,910,642 |
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1,429,663 |
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878,449 |
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608,218 |
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609,890 |
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2,947,175 |
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Net income
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3,019,996 |
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1,416,371 |
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686,418 |
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300,889 |
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191,352 |
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123,570 |
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301,396 |
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NTIC’s share of equity in income from joint ventures
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1,517,175 |
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710,699 |
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344,885 |
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151,128 |
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96,327 |
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62,807 |
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151,329 |
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NTIC’s dividends received from joint ventures
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383,601 |
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— |
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— |
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— |
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— |
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164,839 |
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218,762 |
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Nine Months Ended May 31, 2026
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Total
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EXCOR
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Acobal
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Zerust OY
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Zerust AB
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Spec Tech
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Other
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Net sales
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$ |
74,722,581 |
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$ |
26,583,069 |
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$ |
10,549,682 |
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$ |
4,168,396 |
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$ |
4,053,901 |
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$ |
6,664,036 |
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$ |
22,703,497 |
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Gross profit
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32,468,425 |
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14,048,988 |
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4,141,657 |
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2,545,287 |
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1,476,905 |
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1,822,634 |
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8,432,954 |
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Net income
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7,680,459 |
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3,363,103 |
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1,917,029 |
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808,425 |
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313,037 |
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397,872 |
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880,993 |
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NTIC’s share of equity in income from joint ventures
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3,839,960 |
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1,681,054 |
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958,506 |
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404,069 |
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156,628 |
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|
198,978 |
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440,725 |
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NTIC’s dividends received from joint ventures
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1,786,116 |
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— |
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747,467 |
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|
436,716 |
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|
208,331 |
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|
164,839 |
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228,763 |
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As of August 31, 2025
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Total
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EXCOR
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Acobal
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Zerust OY
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Other
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Current assets
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$ |
60,062,085 |
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$ |
29,870,525 |
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$ |
6,971,262 |
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$ |
3,029,614 |
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$ |
20,190,684 |
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Total assets
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69,815,251 |
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36,941,008 |
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7,900,298 |
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3,313,909 |
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21,660,036 |
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Current liabilities
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11,743,525 |
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2,391,029 |
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2,660,430 |
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|
719,172 |
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5,972,894 |
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Noncurrent liabilities
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336,557 |
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— |
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— |
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— |
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336,557 |
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Joint ventures’ equity
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57,735,169 |
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34,549,979 |
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5,239,868 |
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2,594,737 |
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15,350,585 |
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NTIC’s share of joint ventures’ equity
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28,611,777 |
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17,274,991 |
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2,619,932 |
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1,297,358 |
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7,419,496 |
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NTIC’s share of joint ventures’ undistributed earnings
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27,667,432 |
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17,244,086 |
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2,619,932 |
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1,277,358 |
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6,526,056 |
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Three Months Ended May 31, 2025
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Total
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EXCOR
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All Other
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Net sales
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$ |
23,211,613 |
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$ |
8,271,661 |
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$ |
14,939,952 |
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Gross profit
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9,768,978 |
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4,339,777 |
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5,429,201 |
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Net income
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1,937,620 |
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|
897,104 |
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1,040,516 |
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NTIC’s share of equity in income from joint ventures
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970,314 |
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448,673 |
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|
521,641 |
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NTIC’s dividends received from joint ventures
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|
886,209 |
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— |
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|
886,209 |
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Nine Months Ended May 31, 2025
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Total
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EXCOR
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All Other
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Net sales
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$ |
66,848,498 |
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$ |
23,914,520 |
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$ |
42,933,978 |
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Gross profit
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28,325,377 |
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12,695,626 |
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15,629,751 |
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Net income
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5,416,777 |
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2,665,391 |
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2,751,386 |
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NTIC’s share of equity in income from joint ventures
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2,720,637 |
|
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1,340,674 |
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1,379,963 |
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NTIC’s dividends received from joint ventures
|
|
|
1,566,946 |
|
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|
— |
|
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|
1,566,946 |
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