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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
We manage our business under two reportable segments, consisting of the acquisition and management of stream interests and the acquisition and management of royalty interests. Our President and Chief Executive Officer serves as our Chief Operating Decision Maker ("CODM") and is responsible for reviewing segment performance and making decisions regarding resource allocation. In addition to revenue, our CODM regularly reviews cost of sales, production taxes and depletion for each of our reportable segments. Royal Gold’s long-lived assets (stream and royalty interests, net) as of December 31, 2024 and 2023 are geographically distributed as shown in the following table (amounts in thousands):
As of December 31, 2024As 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$417,643 $659,070 $1,076,713 $461,398 $614,900 $1,076,298 
Dominican Republic302,122 — 302,122 311,050 — 311,050 
Africa237,028 321 237,349 264,529 321 264,850 
Chile211,123 224,116 435,239 222,629 224,116 446,745 
United States— 827,277 827,277 — 794,891 794,891 
Mexico— 33,800 33,800 — 41,803 41,803 
Australia— 19,265 19,265 — 21,288 21,288 
Rest of world85,254 25,785 111,039 92,010 26,639 118,649 
Total $1,253,170 $1,789,634 $3,042,804 $1,351,616 $1,723,958 $3,075,574 
Our reportable segments for purposes of assessing performance are shown below (amounts in thousands):
Year Ended December 31, 2024
Revenue
Cost of sales(1)
Production taxes
Depletion (2)
Segment gross profit
Stream interests$483,294 $97,514 $— $102,800 $282,980 
Royalty interests236,101 — 6,622 41,285 188,194 
Total$719,395 $97,514 $6,622 $144,085 $471,174 
Year Ended December 31, 2023
Revenue
Cost of sales(1)
Production taxes
Depletion (2)
Segment gross profit
Stream interests$418,280 $90,523 $— $121,121 $206,636 
Royalty interests187,437 — 7,294 43,385 136,758 
Total$605,717 $90,523 $7,294 $164,506 $343,394 
Year Ended December 31, 2022
Revenue
Cost of sales(1)
Production taxes
Depletion (2)
Segment gross profit
Stream interests$417,793 $94,642 $— $143,526 $179,625 
Royalty interests185,413 — 7,021 34,916 143,476 
Total$603,206 $94,642 $7,021 $178,442 $323,101 
_______________________________________________________
(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
A reconciliation of total segment gross profit to the consolidated Income before income taxes is shown below (amounts in thousands):
Years Ended
December 31,
2024		December 31,
2023		December 31,
2022
Total segment gross profit$471,174 $343,394 $323,101 
Costs and expenses
General and administrative expenses40,934 39,761 34,612 
Depreciation and amortization341 431 493 
Impairment of royalty interests— — 4,287 
Operating income429,899 303,202 283,709 
Fair value changes in equity securities(66)(147)(1,503)
Interest and other income6,008 9,952 7,832 
Interest and other expense(9,749)(30,867)(17,170)
Income before income taxes$426,092 $282,140 $272,868 
Our revenue by reportable segment for the years ended December 31, 2024, 2023, and 2022 is geographically distributed as shown in the following table (amounts in thousands):
Years Ended
December 31,
2024		December 31,
2023		December 31,
2022
Stream interests:
Canada$231,801 $196,961 $212,369 
Dominican Republic83,059 76,247 85,863 
Africa82,132 70,757 53,787 
Chile47,531 48,920 47,347 
Rest of world38,771 25,395 18,427 
Total stream interests$483,294 $418,280 $417,793 
Royalty interests:
United States$121,212 $123,690 $81,642 
Mexico52,842 25,754 52,388 
Australia28,966 19,011 15,672 
Canada18,945 12,712 27,210 
Rest of world14,136 6,270 8,501 
Total royalty interests$236,101 $187,437 $185,413 
Total revenue$719,395 $605,717 $603,206