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Document And Entity Information (USD $)
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12 Months Ended | ||
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Aug. 31, 2012
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Nov. 19, 2012
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Feb. 29, 2012
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| Document and Entity Information [Abstract] | |||
| Entity Registrant Name | Northern Technologies International Corporation | ||
| Document Type | 10-K | ||
| Current Fiscal Year End Date | --08-31 | ||
| Entity Common Stock, Shares Outstanding | 4,418,487 | ||
| Entity Public Float | $ 57,000,000 | ||
| Amendment Flag | false | ||
| Entity Central Index Key | 0000875582 | ||
| Entity Current Reporting Status | Yes | ||
| Entity Voluntary Filers | No | ||
| Entity Filer Category | Smaller Reporting Company | ||
| Entity Well-known Seasoned Issuer | No | ||
| Document Period End Date | Aug. 31, 2012 | ||
| Document Fiscal Year Focus | 2012 | ||
| Document Fiscal Period Focus | FY |
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- Definition
If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition
Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K. No definition available.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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- Definition
Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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- Details
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- Definition
Amounts due for royalties and service fees outside of the normal course of business from entities in which the reporting entity shares joint control with another party or group, due within 1 year (or 1 business cycle). No definition available.
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- Definition
Amount due from customers or clients, but not joint ventures, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. No definition available.
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- Definition
Amounts due from joint ventures, within one year of the balance sheet date (or the normal operating cycle, whichever is longer) for goods or services (including trade receivables) that have been delivered or sold to joint ventures in the normal course of business. No definition available.
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- Definition
Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards expected to be realized or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after allocation of valuation allowances of noncurrent deferred tax asset attributable to deductible temporary differences and carryforwards. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount due within one year of the balance sheet date (or one operating cycle, if longer) from tax authorities as of the balance sheet date representing refunds of overpayments or recoveries based on agreed-upon resolutions of disputes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Gross amount, as of the balance sheet date, of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value as of the balance sheet date of notes payable (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying values as of the balance sheet date of the portions of long-term notes payable due within one year or the operating cycle if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount, net of accumulated depreciation, depletion and amortization, of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Balance Sheets (Parentheticals) (USD $)
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Aug. 31, 2012
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Aug. 31, 2011
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|---|---|---|
| Trade, allowance (in Dollars) | $ 20,000 | $ 20,000 |
| Preferred stock, par value (in Dollars per share) | $ 0 | $ 0 |
| Preferred stock, shares authorized | 10,000 | 10,000 |
| Preferred stock, shares issued | 0 | 0 |
| Preferred stock, shares outstanding | 0 | 0 |
| Common stock par value (in Dollars per share) | $ 0.02 | $ 0.02 |
| Common stock, shares authorized | 10,000,000 | 10,000,000 |
| Common stock, shares issued | 4,403,656 | 4,353,058 |
| Common stock, shares outstanding | 4,403,656 | 4,353,058 |
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- Definition
A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Issuance value per share of no-par value, nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Royalties and service fees from transactions directly with the reporting entity's joint ventures outside the normal course of business. No definition available.
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- Definition
Net sales either directly to end users or to distributors worldwide, but not sales to the reporting entity's joint ventures and not sales by the reporting entity's joint ventures. No definition available.
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- Definition
Net sales by the reporting entity to the reporting entity's joint ventures, but not sales by the reporting entity either directly to end users or to distributors or sales by the reporting entity’s joint ventures. No definition available.
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- Details
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- Definition
Total costs related to goods produced and sold during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The consolidated profit or loss for the period including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Details
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| X | ||||||||||
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition
Other costs incurred during the reporting period related to other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The total amount of other operating income, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Expenses recognized in the period that are directly related to the selling and distribution of products or services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Changes in additional paid in capital related to exercise of share-based payments awards (such as stock options) and the amount of recognized equity-based compensation during the period (such as nonvested shares). No definition available.
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- Definition
Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the economic entity, including both controlling (parent) and noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, including any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Decrease in noncontrolling interest balance from payment of dividends or other distributions by the non-wholly owned subsidiary or partially owned entity, included in the consolidation of the parent entity, to the noncontrolling interest holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after tax, before reclassification adjustments, resulting from the process of expressing in the reporting currency of the reporting entity those amounts that are denominated or measured in a different currency, and from transactions whose terms are denominated in a currency other than the entity's functional currency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares issued during the period as a result of an employee stock purchase plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares of stock issued during the period that is attributable to transactions involving issuance of stock not separately disclosed. No definition available.
|
| X | ||||||||||
|
- Definition
Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate change in value for stock issued during the period as a result of employee stock purchase plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Value of shares of stock issued during the period that is attributable to transactions involving issuance of stock not separately disclosed. No definition available.
|
| X | ||||||||||
|
- Definition
Value of stock issued as a result of the exercise of stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in amount due within one year (or one business cycle) from joint ventures for royalties and service fees outside of the normal course of business. No definition available.
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in amount due within one year (or one business cycle) from customers or clients, but not joint ventures, for the credit sale of goods and services. No definition available.
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in amount due within one year (or one business cycle) from joint ventures for the credit sale of goods and services that have been delivered or sold to joint ventures in the normal course of business. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The aggregate amount of recurring noncash expense charged against earnings in the period to allocate the cost of assets over their estimated remaining economic lives. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The effect of exchange rate changes on cash balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gains (losses) included in earnings resulting from the sale or disposal of tangible assets. This item does not include any gain (loss) recognized on the sale of oil and gas property or timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the period in the amount due for taxes based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the account that represents the temporary difference that results from Income or Loss that is recognized for accounting purposes but not for tax purposes and vice versa. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in income taxes receivable, which represents the amount due from tax authorities for refunds of overpayments or recoveries of income taxes paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cash outflow in the form of ordinary dividends to noncontrolling interests, generally out of earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to acquire asset without physical form usually arising from contractual or other legal rights, excluding goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the investment in or advances to an entity in which the reporting entity shares control of the entity with another party or group. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Dividends received on equity and other investments during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the amount received from the stock plan during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The noncash expense that accounts for the value of stock or unit options distributed to employees as compensation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Note 1 - Nature of Business and Significant Accounting Policies
|
12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
Aug. 31, 2012
|
|||||||||
| Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] |
1. NATURE
OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES
Nature of
Business – Northern Technologies International
Corporation and Subsidiaries (the Company) develops and
markets proprietary environmentally beneficial products and
services in over 55 countries either directly or via a
network of joint ventures, independent distributors and
agents. The Company’s primary business is
corrosion prevention marketed mainly under the ZERUST®
brand. The Company has been selling its
proprietary ZERUST®
rust and corrosion inhibiting products and services to the
automotive, electronics, electrical, mechanical, military and
retail consumer markets for over 35 years, and more recently,
has targeted and expanded into the oil and gas
industry. The Company also sells a portfolio of
bio-based and biodegradable (compostable) polymer resin
compounds and finished products marketed under the
Natur-Tec®
brand. These products are intended to reduce the
Company’s customers’ carbon footprint and provide
environmentally sound disposal options.
The
Company participates, either directly or indirectly, in 23
active joint venture arrangements in North America, Europe,
and Asia. Each of these joint ventures generally
manufactures and markets products in the geographic territory
to which it is assigned. While most of the
Company’s joint ventures exclusively sell rust and
corrosion inhibiting products, some of the joint ventures
sell the Company’s Natur-Tec®
resin compounds and finished products. The profits
of joint ventures are shared by the respective
joint venture owners in accordance with their respective
ownership percentages. The Company typically owns
50% or less of its joint venture entities and does not
control the decisions of these entities, including dividend
declaration or amount in any given year.
The
Company has evaluated events occurring after the date of the
consolidated financial statements for events requiring
recording or disclosure in the financial statements.
Principles of
Consolidation - The Company evaluates its voting and
variable interests in entities on a qualitative and
quantitative basis. The Company consolidates
entities in which it concludes it has the power to direct the
activities that most significantly impact an entity’s
economic success and has the obligation to absorb losses or
the right to receive benefits that could be significant to
the entity. All such relationships are evaluated
on an ongoing basis. The consolidated financial
statements include the accounts of Northern Technologies
International Corporation, its wholly owned subsidiaries, NTI
Facilities, Inc. and Northern Technologies Holding Company,
LLC, and its majority owned Brazilian subsidiary, Zerust
Prevenção de Corrosão S.A. (Zerust
Brazil). All significant intercompany transactions
and balances have been eliminated in
consolidation. The consolidated financial
statements do not include the accounts of any of the
Company’s joint ventures.
Noncontrolling
interest – The Company owns 85% of Zerust
Brazil. The remaining 15% is accounted for as a
noncontrolling interest and reported as part of equity in the
consolidated financial statements. The Company
allocates gains and losses to the noncontrolling interest
even when such allocation might result in a deficit balance,
reducing the losses attributed to the controlling interest,
changes in ownership interests would be treated as equity
transactions if control is maintained.
Net Sales
–The Company includes net sales to its joint ventures
and net sales to unaffiliated customers as separate line
items on its consolidated statements of
operations. There are no sales originating from
the Company’s joint ventures included in the amount, as
the Company’s investments in its joint ventures are
accounted for using the equity method.
Revenue
Recognition – The Company recognizes revenue
from the sale of its products when persuasive evidence of an
arrangement exists, the product has been delivered, the price
is fixed and determinable and collection of the resulting
receivable is reasonably assured. These criteria
are met when risk of loss and title pass to the customer,
distributor or joint venture entity.
Deferred Joint
Venture Revenue – The Company periodically
sponsors a worldwide joint venture conference, in which all
of its joint ventures are invited to
participate. It defers a portion of its service
fees received from its joint ventures in each accounting
period leading up to the next conference, reflecting that the
Company has not earned portions of the payments
received. The next joint venture conference is
scheduled to be held in the summer of 2013. At
both August 31, 2012 and 2011, the Company had deferred
$288,000 of joint venture fees for services related to this
future conference, which represents the amount that the
Company expects to spend to hold the
conference. This amount is based on the historical
experience of the Company, current conditions, and the
intentions of the Company’s management. The
Company does not anticipate deferring any additional service
fees until after the next conference.
Accounts
Receivable – Payment terms for the
Company’s unaffiliated customers are determined based
on credit risk and vary by customer. The Company
typically offers standard payments terms to unaffiliated
customers of net 30 days. The Company does not
accrue interest on past due accounts
receivable. The Company reviews the credit
histories of its customers before extending unsecured credit.
The Company presents accounts and notes receivable, net of an
allowance for doubtful accounts. Each quarter, the
Company prepares an analysis of its ability to collect
outstanding receivables that provides a basis for an
allowance estimate for doubtful accounts. In doing
so, the Company evaluates the age of its receivables, past
collection history, current financial conditions of key
customers and its joint ventures, and economic
conditions. Based on this evaluation, the Company
establishes a reserve for specific accounts and notes
receivable that it believes are uncollectible, as well as an
estimate of uncollectible receivables not specifically
known. Deterioration in the financial condition of
any key customer or a significant slowdown in the economy
could have a material negative impact on the Company’s
ability to collect a portion or all of the accounts and notes
receivable. The Company believes that an analysis
of historical trends and its current knowledge of potential
collection problems provide the Company with sufficient
information to establish a reasonable estimate for an
allowance for doubtful accounts. In the event the
Company determined that a smaller or larger uncollectible
accounts reserve is appropriate, the Company would record a
credit or charge to selling expense in the period that it
made such a determination. Accounts receivable
have been reduced by an allowance for uncollectible accounts
of $20,000 at August 31, 2012 and 2011. Accounts
are considered past due based on terms agreed upon between
the Company and the customer. Accounts receivable
are written-off only after all collection attempts have
failed and are based on individual credit evaluation and
specific circumstances of the customer.
Receivables from
Joint Ventures – Trade receivables from joint
ventures arise from sales the Company makes to its joint
ventures of products. Receivables for services to
the Company’s joint ventures are based primarily on a
contractual percentage of the sales of the joint ventures and
are intended to compensate the Company for services the
Company provides to its joint ventures, including consulting,
legal, travel, insurance, technical and marketing
services. Payment terms for the Company’s
joint ventures also are determined based on credit risk;
however, additional consideration also is given to the
individual joint venture due to the transportation time
associated with ocean delivery of most products and certain
other factors. Generally, accounts receivable from
the Company’s joint ventures unpaid after 90 days are
considered past due. The Company does not accrue
interest on past due accounts receivable. The
Company periodically reviews amounts due from its joint
ventures for collectability, and based on past experience and
continuous review of the balances due, has determined an
allowance for doubtful accounts related to its joint venture
receivables is not necessary.
Fees for
Services Provided to Joint Ventures – The
Company provides certain services to its joint ventures
including consulting, legal, travel, insurance, technical and
marketing services. The Company receives fees for
the services it provides to its joint
ventures. The fees for services received by the
Company from its joint ventures are generally based on either
a flat fee or a percentage of net sales by the
Company’s joint ventures depending on local laws and
tax regulations. The Company recognizes revenues
related to fees for services provided to its joint ventures
when earned, amounts are determinable and collectability is
reasonably assured. Under the Company’s
agreements with its joint ventures, amounts are earned when
product is shipped from joint venture
facilities. The Company reviews the financial
situation of each of its joint ventures to assist in the
likelihood of collections on amounts earned. The
Company elects to account for these fees on a cash basis for
certain joint ventures if uncertainty exists surrounding the
collection of such fees.
Cash and Cash
Equivalents - The Company includes as cash and cash
equivalents highly liquid, short-term investments with
maturity of three months or less when purchased, which are
readily convertible into known amounts of
cash. The Company maintains its cash in high
quality financial institutions. The balances, at
times, may exceed federally insured limits.
Inventories
- Inventories are recorded at the lower of cost (first-in,
first-out basis) or market.
Property and
Depreciation - Property and equipment are stated at
cost. Depreciation is computed using the
straight-line method based on the estimated service lives of
the various assets as follows:
Investments in
Joint Ventures - Investments in the Company’s
joint ventures are accounted for using the equity
method. Under the equity method, investments are
initially recorded at cost and are adjusted for dividends,
distributed and undistributed earnings and losses, changes in
foreign currency exchange rates and additional
investments. In the event the Company’s
share of joint venture’s cumulative losses exceed the
Company’s investment balance, the balance is reported
at zero value until proportionate income exceeds the
losses. The Company assesses its joint ventures
for impairment on an annual basis as of August 31 of each
year as part of its fiscal year end analysis. In
addition to the annual review for impairment, the Company
reviews the operating results of each joint venture on a
quarterly basis in comparison to its historical operating
results and its accrual of fees for services provided to
joint ventures. If the operating results of a
joint venture do not meet financial performance expectations,
an additional evaluation is performed on the joint
venture. If an investment were determined to be
impaired, then a reserve is created to reflect the impairment
on the financial results of the Company. The
Company’s evaluation of its investments in joint
ventures requires the Company to make assumptions about
future cash flows of its joint ventures. These
assumptions require significant judgment and actual results
may differ from assumed or estimated amounts.
Recoverability
of Long-Lived Assets - The Company reviews its
long-lived assets whenever events or changes in circumstances
indicate the carrying amount of the assets may not be
recoverable. The Company determines potential
impairment by comparing the carrying value of the assets with
expected net cash flows expected to be provided by operating
activities of the business or related products. If
the sum of the expected undiscounted future net cash flows is
less than the carrying value, the Company evaluates if an
impairment loss should be recognized. An
impairment loss is measured by comparing the amount by which
the carrying value exceeds the fair value of the
asset.
Income
Taxes - The Company utilizes the liability method of
accounting for income taxes which requires an asset and
liability approach to financial accounting and reporting for
income taxes. Deferred income tax assets and
liabilities are determined based on the differences between
the financial statement and tax basis of assets and
liabilities using enacted tax rates in effect for the year in
which the differences are expected to reverse. The effect of
a change in tax rates on deferred tax assets and liabilities
is recognized in income in the period that includes the
enactment date.
The
Company records net deferred tax assets to the extent the
Company believes these assets will more likely than not be
realized. In making such a determination, the Company
considers all available positive and negative evidence,
including future reversals of existing taxable temporary
differences, projected future taxable income, tax-planning
strategies, and results of recent operations. In the event
the Company determines that it would be able to realize its
deferred income tax assets in the future in excess of their
net recorded amount, the Company would make an adjustment to
the deferred tax asset valuation allowance, which would
reduce the provision for income taxes.
The
Company records uncertain tax positions on the basis of a
two-step process whereby (1) the Company determines whether
it is more likely than not that the tax positions will be
sustained based on the technical merits of the position and
(2) those tax positions that meet the more-likely-than-not
recognition threshold. The Company recognizes the
largest amount of tax benefit that is greater than 50 percent
likely to be realized upon ultimate settlement with the
related tax authority.
Foreign Currency
Translation (Accumulated Other Comprehensive Income) -
The functional currency of Zerust Brazil and each
unconsolidated international joint venture is the applicable
local currency. The translation of the applicable
foreign currencies into U.S. dollars is performed for balance
sheet accounts using exchange rates in effect at the balance
sheet date and for revenue and expense accounts using an
average monthly exchange rate. Translation gains
or losses are reported as an element of other comprehensive
income.
The
Company (excluding Zerust Brazil and its joint ventures)
conducts all foreign transactions based on the U.S.
dollar. Since investments in joint ventures are
accounted for using the equity method, any changes in foreign
currency exchange rates are reflected as a foreign currency
translation adjustment and does not change the equity in
income of joint ventures reflected in the Company’s
consolidated statements of operations.
Fair Value of
Financial Instruments – The carrying value of
cash, short-term accounts and notes receivable, notes
payable, trade accounts payables, and other accrued expenses
approximate fair value because of the short maturity of those
instruments. The fair value of the Company’s long-term
debt approximates the carrying values based upon current
market rates of interest.
Shipping and
Handling - The Company records all amounts billed to
customers in a sales transaction related to shipping and
handling as sales. The Company records costs
related to shipping and handling in cost of goods
sold.
Government
Grants - The Company accrues proceeds received under
the grants when earned based on the terms of the contracts
and offsets research and development expenses incurred in
equal installments over the timelines associated with
completion of the grant specific objectives and
milestones.
Research and
Development - The Company expenses all costs related
to product research and development as incurred. The
costs related to product research and development are the net
amount after being reduced by reimbursements related to
certain research and development contracts of $365,940 and
$219,175 for fiscal 2012 and fiscal 2011, respectively.
The Company accrues proceeds received under such contracts
and offsets research and development expenses incurred in
equal installments over the timelines associated with
completion of the contracts’ specific objectives and
milestones. At August 31, 2012 and 2011, the Company
had $96,861 and $0, respectively, of deferred
amounts in other accrued liabilities as the Company had not
yet performed under the obligations of the contract at that
time.
Stock-Based
Compensation – The Company recognizes
compensation cost relating to share-based payment
transactions, including grants of employee stock options and
transactions under the Company’s employee stock
purchase plan, in its consolidated financial
statements. That cost is measured based on the
fair value of the equity or liability instruments
issued. The Company measures the cost of
employee services received in exchange for stock options and
other stock-based awards based on the grant-date fair value
of the award, and recognizes the cost over the period the
employee is required to provide services for the
award.
Use of
Estimates - The preparation of the financial
statements in conformity with accounting principles generally
accepted in the United States of America requires management
to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the
financial statements and the reported amounts of revenues and
expenses during the reporting period. Actual
results could differ from those estimates.
|
| X | ||||||||||
|
- Definition
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Note 2 - Recently Issued Accounting Pronouncements
|
12 Months Ended |
|---|---|
|
Aug. 31, 2012
|
|
| Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] |
2. RECENTLY
ISSUED ACCOUNTING PRONOUNCEMENTS
In
May 2011, the Financial Accounting Standards Board (FASB)
issued Accounting Standards Update (ASU) No. 2011-04,
“Amendments to
Achieve Common Fair Value Measurement and Disclosure
Requirements in U.S. GAAP and International Financial
Reporting Standards (IFRS).” This pronouncement
was issued to provide a consistent definition of fair value
and ensure that the fair value measurement and disclosure
requirements are similar between U.S. GAAP and IFRS. ASU
2011-04 changes certain fair value measurement principles and
enhances the disclosure requirements particularly for Level 3
fair value measurements. This pronouncement is effective for
reporting periods beginning on or after December 15, 2011,
with early adoption prohibited. The new guidance will require
prospective application. The Company will adopt
this guidance at the beginning of its fiscal
2013. Adoption of this guidance is not expected to
have a material impact on the Company’s consolidated
results of operations or financial position.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Note 3 - Inventories
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Aug. 31, 2012
|
|||||||||||||||||||||||||||||||||||||
| Inventory Disclosure [Text Block] |
3. INVENTORIES
Inventories
consisted of the following:
|
||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Note 4 - Property and Equipment, Net
|
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Aug. 31, 2012
|
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| Property, Plant and Equipment Disclosure [Text Block] |
4. PROPERTY
AND EQUIPMENT, NET
Property
and equipment, net consisted of the following:
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| X | ||||||||||
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- Definition
The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 5 - Patents and Trademarks, Net
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Aug. 31, 2012
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| Intangible Assets Disclosure [Text Block] |
5. PATENTS
AND TRADEMARKS, NET
Patents
and trademarks, net consisted of the following:
Patent
and trademark costs are amortized over seven
years. Costs incurred related to patents and
trademarks are capitalized until filed and approved, at which
time the amounts capitalized to date are amortized and any
further costs, including maintenance costs, are expensed as
incurred. Amortization expense is estimated to
approximate $160,000 in each of the next five fiscal
years.
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- Definition
The entire disclosure for all or part of the information related to intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 6 - Investments in Joint Ventures
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| Equity Method Investments and Joint Ventures Disclosure [Text Block] |
6. INVESTMENTS
IN JOINT VENTURES
The
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 financial statements have subsequently been
adjusted to conform with accounting principles generally
accepted in the United States of America in all material
respects. All material profits recorded on sales
from the Company to its joint ventures have been eliminated
for financial reporting purposes.
Financial
information from the audited and unaudited financial
statements of EXCOR and NTI ASEAN, and all of the
Company’s other joint ventures, are summarized as
follows:
The
Company records expenses that are directly attributable to
the joint ventures on its consolidated statements of
operations on the line “Expenses incurred in support of
joint ventures”. The expenses include items
such as employee compensation and benefit expenses, travel
expense, consulting expense and legal expense.
During
fiscal 2011, the Company invested $38,217, respectively, in a
joint venture in Russia to specifically engage in the oil and
gas industry. The Company has a 50% ownership
interest in this Russian joint venture.
During
fiscal 2012, both the Company and the other 50% owner in
Harita NTI Limited agreed to receive additional equity
interest in consideration for outstanding fees for services
receivable of $484,545 due to each party. The
Company did not make any other joint venture investments
during fiscal 2012 and fiscal 2011.
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| X | ||||||||||
|
- Definition
The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 7 - Corporate Debt
|
12 Months Ended |
|---|---|
|
Aug. 31, 2012
|
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| Debt Disclosure [Text Block] |
7. CORPORATE
DEBT
As
of May 31, 2012, Northern Technologies Holding Company, LLC
(NTI LLC) had a term loan with a principal amount of
$1,009,533 outstanding that NTI LLC obtained from PNC Bank,
National Association (PNC Bank) in connection with the
purchase of NTIC’s corporate headquarters in September
2006. The term loan matures on January 10, 2016,
bears interest at an annual rate based on the daily LIBOR
rate plus 2.15% and is payable in consecutive monthly
installments equal to approximately $6,343 (inclusive of
principal but exclusive of interest). The term
loan is secured by a first lien on the real estate and
building owned by NTI LLC and all of the assets of the
Company and is guaranteed by the Company.
The
Company has a revolving line of credit with PNC Bank of
$3,000,000 that expires on January 9, 2013. No
amounts were outstanding under the line of credit as of
August 31, 2012 and August 31, 2011. It is
anticipated that the Company will attempt to renew the line
of credit prior to the January 9, 2013 expiration
date. At the option of the Company, outstanding
advances under the line of credit bear interest at either (a)
an annual rate based on LIBOR plus 2.15% for the applicable
LIBOR interest period selected by the Company or (b) at the
rate publicly announced by PNC Bank from time to time as its
prime rate. Interest is payable in arrears (a) for the
portion of advances bearing interest under the prime rate on
the last day of each month during the term thereof and (b)
for the portion of advances bearing interest under the LIBOR
option on the last day of the respective LIBOR interest
period selected for such advance. Any unpaid
interest is payable on the maturity date. As of
August 31, 2012, the interest rate was 3.18% and the weighted
average rate was 3.17% for fiscal 2012. As of
August 31, 2011, the interest rate was 2.50% and the weighted
average rate was 2.43% for fiscal 2011. The
revolving line of credit is secured by cash, receivables and
inventory.
The
term loan and the line of credit are governed under separate
loan agreements (collectively, the Loan
Agreements). The Loan Agreements contain standard
covenants, including affirmative financial covenants, such as
the maintenance of a minimum fixed charge coverage ratio, and
negative covenants, which, among other things, limit the
incurrence of additional indebtedness, loans and equity
investments, disposition of assets, mergers and
consolidations and other matters customarily restricted in
such agreements. Under the Loan Agreements, the Company is
subject to a minimum fixed charge coverage ratio of
1.10:1.00. As of August 31, 2012 the Company is in
compliance with all debt covenants.
On
January 10, 2012, the Company and PNC Bank entered into a
Waiver and First Amendment to Loan Documents pursuant to
which the Company and PNC Bank amended the loan agreement and
other documents evidencing the Company’s $3,000,000
line of credit with PNC Bank effective as of January 11, 2012
to extend the maturity date of the line of credit from
January 10, 2012 to January 9, 2013, and waive a technical
covenant default by the Company to deliver a compliance
certificate for the period ended November 30,
2011. All other terms of the line of credit and
the loan agreement and other documents evidencing the line of
credit remain the same.
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| X | ||||||||||
|
- Definition
The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Note 8 - Stockholders' Equity
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Aug. 31, 2012
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| Stockholders' Equity Note Disclosure [Text Block] |
8. STOCKHOLDERS’
EQUITY
During
fiscal 2012, the Company did not purchase or retire any
shares of its common stock. The following stock
options to purchase shares of common stock were exercised
during fiscal 2012:
The
total intrinsic value of the options exercised during fiscal
2012 was $13,872.
During
fiscal 2012, the Company granted stock for payment of fiscal
2011 bonuses under the 2007 Plan for an aggregate of 42,707
shares of its common stock to various employees at a grant
price of $14.42 per share. The aggregate fair
value of the shares of the Company’s common stock as of
the date of grant of the stock bonuses was $615,830, based on
the closing sale price of a share of the Company’s
common stock on the date of grant. The fair value of common
stock granted during fiscal 2012 was based on fiscal 2011
performance and was included in accrued liabilities at August
31, 2011.
During
fiscal 2011, the Company granted stock for payment of fiscal
2010 bonuses under the 2007 Plan for an aggregate of 22,686
shares of its common stock to various employees at a grant
price of $14.09 per share. The aggregate fair
value of the shares of the Company’s common stock as of
the date of grant of the stock bonuses was $319,649, based on
the closing sale price of a share of the Company’s
common stock on the date of grant. The fair value
of common stock granted during fiscal 2011 was based on
fiscal 2010 performance and was included in accrued
liabilities at August 31, 2010.
During
fiscal 2011, the Company did not purchase or retire any
shares of its common stock. The following stock
options to purchase shares of common stock were exercised
during fiscal 2011:
The
total intrinsic value of the options exercised during fiscal
2011 was $480,203.
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| X | ||||||||||
|
- Definition
The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Note 9 - Total Comprehensive Income
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Aug. 31, 2012
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| Comprehensive Income (Loss) Note [Text Block] |
9. TOTAL
COMPREHENSIVE INCOME
The
Company’s total comprehensive income was as follows for
fiscal 2012 and fiscal 2011:
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| X | ||||||||||
|
- Definition
The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Note 10 - Net Income Per Common Share
|
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Aug. 31, 2012
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| Earnings Per Share [Text Block] |
10. NET
INCOME PER COMMON SHARE
Basic
net income per common share is computed by dividing net
income by the weighted average number of common shares
outstanding. Diluted net income per share assumes
the exercise of stock options using the treasury stock
method, if dilutive.
Options
to purchase shares of common stock of 48,000 were excluded
from the computation of common share equivalents for fiscal
2012, as the exercise prices of such options were greater
than market price of a share of common stock. No
options to purchase shares of common stock were excluded from
the computation of common share equivalents for fiscal
2011.
The
following is a reconciliation of the earnings per share
computation for fiscal 2012 and fiscal 2011:
The
dilutive impact summarized above relates to the periods when
the average market price of Company stock exceeded the
exercise price of the potentially dilutive option securities
granted. Earnings per common share were based on
the weighted average number of common shares outstanding
during the periods when computing the basic earnings per
share. When dilutive, stock options are included
as equivalents using the treasury stock market method when
computing the diluted earnings per share.
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| X | ||||||||||
|
- Definition
The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Note 11 - Stock-Based Compensation
|
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Aug. 31, 2012
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| Disclosure of Compensation Related Costs, Share-based Payments [Text Block] |
11. STOCK-BASED
COMPENSATION
The
Company has two stock-based compensation plans under which
stock options and other stock-based awards have been granted,
the Northern Technologies International Corporation Amended
and Restated 2007 Stock Incentive Plan (the 2007 Plan) and
the Northern Technologies International Corporation Employee
Stock Purchase Plan (the ESPP). The Compensation
Committee of the Board of Directors and the Board of
Directors administers these plans.
The
2007 Plan provides for the grant of incentive stock options,
non-statutory stock options, stock appreciation rights,
restricted stock, stock unit awards, performance awards and
stock bonuses to eligible recipients to enable the Company
and its subsidiaries to attract and retain qualified
individuals through opportunities for equity participation in
the Company, and to reward those individuals who contribute
to the achievement of the Company’s economic
objectives. Subject to adjustment as provided in
the 2007 Plan, up to a maximum of 800,000 shares of the
Company’s common stock are issuable under the 2007
Plan. Options granted under the 2007 Plan
generally have a term of five years and become exercisable
over a three- or four-year period beginning on the one-year
anniversary of the date of grant. Options are
granted at per share exercise prices equal to the market
value of the Company’s common stock on the date of
grant. As of August 31, 2012, only stock options
and stock bonuses had been granted under the 2007
Plan.
The
maximum number of shares of common stock of the Company
available for issuance under the ESPP is 100,000 shares,
subject to adjustment as provided in the ESPP. The
ESPP provides for six-month offering periods beginning on
September 1 and March 1 of each year. The purchase
price of the shares is 90% of the lower of the fair market
value of common stock at the beginning or end of the offering
period. This discount may not exceed the maximum
discount rate permitted for plans of this type under Section
423 of the Internal Revenue Code of 1986, as
amended. The ESPP is compensatory for financial
reporting purposes.
The
fair value of option grants is determined at date of grant,
using the Black-Scholes option pricing model with the
assumptions listed below. The volatility factor used in
the Black-Scholes option pricing model is based on historical
stock price fluctuations and the risk free interest rate is
based on U.S. treasury rates appropriate for the expected
term. Dividend yield and expected volatility are
estimated using historical amounts that are anticipated to be
consistent with current values. Expected life of
option is based on the life of the option
agreements. Based on these valuations, the Company
recognized compensation expense of $288,396 and $177,937
during fiscal 2012 and 2011, respectively, related to the
options that vested during such time period. As of
August 31, 2012, the total compensation cost for nonvested
options not yet recognized in the Company’s
consolidated statements of operations was
$28,076. That cost is expected to be recognized
over an expected weighted-average period of one
year. Stock-based compensation expense of $28,076
is expected to be recognized during fiscal 2013, based on
outstanding options as of August 31, 2012. Future
option grants will impact the compensation expense
recognized.
The
Company currently estimates a ten percent forfeiture rate for
stock options, but will continue to review this estimate in
future periods.
The
fair value of each option grant is estimated on the grant
date using the Black-Scholes option-pricing model with the
following assumptions and results for the grants:
Stock
option activity during the periods indicated is as
follows:
The
weighted average per share fair value of options granted
during fiscal 2012 and fiscal 2011 were $7.14 and $3.60,
respectively. The weighted average remaining
contractual life of the options outstanding as of August 31,
2012 and 2011 was 2.14 years and 2.80 years,
respectively.
|
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| X | ||||||||||
|
- Definition
The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Note 12 - Geographic And Segment Information
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Aug. 31, 2012
|
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| Segment Reporting Disclosure [Text Block] |
12. GEOGRAPHIC
AND SEGMENT INFORMATION
Net
sales by geographic location as a percentage of total
consolidated net sales were as follows:
Net
sales by geographic location are based on the location of the
customer.
Fees
for services provided to joint ventures by geographic
location as a percentage of total fees for services provided
to joint ventures during fiscal 2012 and fiscal 2011 were as
follows:
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