SEGMENT INFORMATION

3 Months Ended

Sep. 30, 2021

SEGMENT INFORMATION

SEGMENT INFORMATION

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

	As of September 30, 2021						As of June 30, 2021
					Total stream						Total stream
	Stream		Royalty		and royalty		Stream		Royalty		and royalty
	interest		interest		interests, net		interest		interest		interests, net
Canada	$	599,425	$	415,213	$	1,014,638	$	624,212	$	252,547	$	876,759
Dominican Republic		358,237		—		358,237		366,698		—		366,698
Chile		253,521		224,116		477,637		256,604		224,116		480,720
Africa		287,935		321		288,256		291,112		321		291,433
Mexico		—		63,687		63,687		—		66,867		66,867
United States		—		110,153		110,153		—		112,817		112,817
Australia		—		27,788		27,788		—		28,117		28,117
Rest of world		109,618		26,616		136,234		12,038		26,709		38,747
Total	$	1,608,736	$	867,894	$	2,476,630	$	1,550,664	$	711,494	$	2,262,158

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

	Three Months Ended September 30, 2021
	Revenue		Cost of sales (1)		Production taxes		Depletion (2)		Segment gross profit
Stream interests	$	115,921	$	27,230	$	—	$	41,922	$	46,769
Royalty interests		58,510		—		2,054		8,597		47,859
Total	$	174,431	$	27,230	$	2,054	$	50,519	$	94,628
	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

(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,
		2021		2020
Total segment gross profit	$	94,628	$	77,409
Costs and expenses
General and administrative expenses		7,129		7,454
Exploration costs		—		563
Depreciation and amortization		92		86
Gain on sale of Peak Gold JV interest		—		33,906
Operating income		87,407		103,212
Fair value changes in equity securities		176		2,539
Interest and other income		819		421
Interest and other expense		(1,908)		(1,875)
Income before income taxes	$	86,494	$	104,297

Our revenue by reportable segment for the three months ended September 30, 2021, and 2020, is geographically distributed as shown in the following table (amounts in thousands):

	Three Months Ended
	September 30,		September 30,
	2021		2020
Stream interests:
Canada	$	64,031	$	41,586
Dominican Republic		27,198		31,270
Chile		11,601		23,509
Africa		8,679		10,138
Rest of world		4,412		—
Total stream interests	$	115,921	$	106,503
Royalty interests:
United States	$	27,080	$	13,698
Mexico		15,427		11,577
Canada		6,402		7,410
Australia		6,917		4,542
Africa		602		750
Rest of world		2,082		2,400
Total royalty interests	$	58,510	$	40,377
Total revenue	$	174,431	$	146,880