SEGMENT INFORMATION

3 Months Ended

Sep. 30, 2020

SEGMENT INFORMATION

SEGMENT INFORMATION

11.    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. Royal Gold’s long-lived assets (stream and royalty interests, net) are geographically distributed as shown in the following table (amounts in thousands):

	As of September 30, 2020						As of June 30, 2020
					Total stream						Total stream
	Stream		Royalty		and royalty		Stream		Royalty		and royalty
	interest		interest		interests, net		interest		interest		interests, net
Canada	$	684,459	$	186,958	$	871,417	$	702,732	$	189,855	$	892,587
Dominican Republic		394,580		—		394,580		406,469		—		406,469
Chile		271,854		224,116		495,970		277,661		223,922		501,583
Africa		223,515		321		223,836		215,463		321		215,784
Mexico		—		74,273		74,273		—		75,951		75,951
United States		—		116,723		116,723		—		159,445		159,445
Australia		—		29,649		29,649		—		30,006		30,006
Rest of world		12,038		23,828		35,866		12,038		25,050		37,088
Total	$	1,586,446	$	655,868	$	2,242,314	$	1,614,363	$	704,550	$	2,318,913

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

	Three Months Ended September 30, 2020
	Revenue		Cost of sales (1)		Production taxes		Depletion (2)		Segment gross profit
Stream interests	$	106,503	$	21,902	$	—	$	39,027	$	45,574
Royalty interests		40,377		—		1,355		7,187		31,835
Total	$	146,880	$	21,902	$	1,355	$	46,214	$	77,409
	Three Months Ended September 30, 2019
	Revenue		Cost of sales (1)		Production taxes		Depletion (2)		Segment gross profit
Stream interests	$	86,981	$	20,111	$	—	$	31,462	$	35,408
Royalty interests		31,793		—		1,099		7,199		23,495
Total	$	118,774	$	20,111	$	1,099	$	38,661	$	58,903

(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):

	Three Months Ended
	September 30,		September 30,
		2020		2019
Total segment gross profit	$	77,409	$	58,903
Costs and expenses
General and administrative expenses		7,454		7,443
Exploration costs		563		2,626
Depreciation and amortization		86		53
Gain on sale of Peak Gold member interest		33,906		—
Operating income		103,212		48,781
Fair value changes in equity securities		2,539		(1,375)
Interest and other income		421		775
Interest and other expense		(1,875)		(2,834)
Income before income taxes	$	104,297	$	45,347

Our revenue by reportable segment for the three months ended September 30, 2020 and 2019 is geographically distributed as shown in the following table (amounts in thousands):

	Three Months Ended
	September 30,		September 30,
	2020		2019
Stream interests:
Canada	$	41,586	$	37,663
Dominican Republic		31,270		21,618
Chile		23,509		20,604
Africa		10,138		7,096
Total stream interests	$	106,503	$	86,981
Royalty interests:
United States	$	13,698	$	10,602
Mexico		11,577		6,387
Canada		7,410		8,921
Australia		4,542		3,802
Africa		750		470
Rest of world		2,400		1,611
Total royalty interests	$	40,377	$	31,793
Total revenue	$	146,880	$	118,774