SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of geographical distribution of long-lived assets

Our long-lived assets (stream and royalty interests, net) are geographically distributed as shown in the following table (amounts in thousands):

	As of March 31, 2024						As of December 31, 2023
	Stream interest		Royalty interest		Total stream and royalty interests, net		Stream interest		Royalty interest		Total stream and royalty interests, net
Canada	$	451,610	$	612,428	$	1,064,038	$	461,398	$	614,900	$	1,076,298
Dominican Republic	308,814		—		308,814		311,050		—		311,050
Africa	255,704		321		256,025		264,529		321		264,850
Chile	219,392		224,116		443,508		222,629		224,116		446,745
United States	—		789,467		789,467		—		794,891		794,891
Mexico	—		39,245		39,245		—		41,803		41,803
Australia	—		20,961		20,961		—		21,288		21,288
Rest of world	89,799		26,638		116,437		92,010		26,639		118,649
Total	$	1,325,319	$	1,713,176	$	3,038,495	$	1,351,616	$	1,723,958	$	3,075,574

Schedule of reportable segments for assessing performance

Our reportable segments for purposes of assessing performance are shown below (amounts in thousands):

	Three Months Ended March 31, 2024
	Revenue		Cost of sales(1)		Production taxes		Depletion (2)		Segment gross profit
Stream interests	$	102,528	$	21,751	$	—	$	27,401	$	53,376
Royalty interests	46,374		—		1,449		11,282		33,643
Total	$	148,902	$	21,751	$	1,449	$	38,683	$	87,019
	Three Months Ended March 31, 2023
	Revenue		Cost of sales(1)		Production taxes		Depletion (2)		Segment gross profit
Stream interests	$	114,990	$	25,020	$	—	$	33,752	$	56,218
Royalty interests	55,402		—		1,989		12,462		40,951
Total	$	170,392	$	25,020	$	1,989	$	46,214	$	97,169

_______________________________________________

(1)Excludes depreciation, depletion and amortization.

(2)Depletion amounts are included within Depreciation, depletion and amortization on our consolidated statements of operations and comprehensive income.

Schedule of reconciliation of segment gross profit to consolidated income (loss)

A reconciliation of total segment gross profit to the consolidated Income before income taxes is shown below (amounts in thousands):

	Three Months Ended
	March 31, 2024		March 31, 2023
Total segment gross profit	$	87,019	$	97,169
Costs and expenses
General and administrative expenses	11,412		11,000
Depreciation and amortization	82		114
Operating income	75,525		86,055
Fair value changes in equity securities	447		799
Interest and other income	2,977		2,263
Interest and other expense	(4,607)		(9,175)
Income before income taxes	$	74,342	$	79,942

Schedule of revenue by reportable segment geographically distributed

Our revenue by reportable segment for the three months ended March 31, 2024 and 2023, is geographically distributed as shown in the following table (amounts in thousands):

	Three Months Ended
	March 31, 2024		March 31, 2023
Stream interests:
Canada	$	44,705	$	56,981
Africa	19,101		17,539
Dominican Republic	17,760		22,358
Chile	11,689		12,934
Rest of world	9,273		5,178
Total stream interests	$	102,528	$	114,990
Royalty interests:
United States	$	24,079	$	33,581
Mexico	10,768		9,295
Canada	5,131		6,591
Australia	4,975		4,099
Rest of world	1,421		1,836
Total royalty interests	$	46,374	$	55,402
Total revenue	$	148,902	$	170,392