SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2022

SEGMENT INFORMATION

Schedule of geographical distribution of long-lived assets

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) as of December 31, 2022 and 2021 are geographically distributed as shown in the following table (amounts in thousands):

	As of December 31, 2022						As of December 31, 2021
					Total stream						Total stream
	Stream		Royalty		and royalty		Stream		Royalty		and royalty
	interest		interest		interests, net		interest		interest		interests, net
Canada	$	511,957	$	620,549	$	1,132,506	$	579,326	$	412,419	$	991,745
Dominican Republic		320,867		—		320,867		350,083		—		350,083
Africa		299,722		321		300,043		297,569		321		297,890
Chile		236,312		224,116		460,428		249,147		224,116		473,263
United States		—		823,203		823,203		—		107,761		107,761
Mexico		—		50,156		50,156		—		60,977		60,977
Australia		—		22,120		22,120		—		27,496		27,496
Rest of world		101,440		26,639		128,079		107,920		26,617		134,537
Total	$	1,470,298	$	1,767,104	$	3,237,402	$	1,584,045	$	859,707	$	2,443,752

Schedule of reportable segments for assessing performance

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

	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 interests		185,413		—		7,021		34,916		143,476
Total	$	603,206	$	94,642	$	7,021	$	178,442	$	323,101
	Six Months Ended December 31, 2021
	Revenue		Cost of sales (1)		Production taxes		Depletion (2)		Segment gross profit
Stream interests	$	226,551	$	52,329	$	—	$	82,603	$	91,619
Royalty interests		116,401		—		4,412		16,867		95,122
Total	$	342,952	$	52,329	$	4,412	$	99,470	$	186,741
	Fiscal Year Ended June 30, 2021
	Revenue		Cost of sales (1)		Production taxes		Depletion (2)		Segment gross profit
Stream interests	$	423,989	$	92,898	$	—	$	150,594	$	180,497
Royalty interests		191,867		—		6,743		32,619		152,505
Total	$	615,856	$	92,898	$	6,743	$	183,213	$	333,002
	Fiscal Year Ended June 30, 2020
	Revenue		Cost of sales (1)		Production taxes		Depletion (2)		Segment gross profit
Stream interests	$	359,868	$	83,890	$	—	$	144,678	$	131,300
Royalty interests		138,951		—		3,824		30,369		104,758
Total	$	498,819	$	83,890	$	3,824	$	175,047	$	236,058

(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):

	Year Ended		Six Months Ended		Fiscal Years Ended
	December 31,		December 31,		June 30,		June 30,
		2022		2022		2021		2020
Total segment gross profit	$	323,101	$	186,741	$	333,002	$	236,058
Costs and expenses
General and administrative expenses		34,612		15,163		28,387		30,195
Exploration costs		—		—		563		5,190
Depreciation		493		215		356		387
Impairment of royalty interests		4,287		—		—		1,341
Total costs and expenses		39,392		15,378		29,306		37,113
Gain on sale of Peak Gold JV interest		—		—		33,906		—
Operating income		283,709		171,363		337,602		198,945
Fair value changes in equity securities		(1,503)		(1,350)		6,017		1,418
Interest and other income		7,832		1,610		2,443		2,046
Interest and other expense		(17,170)		(2,787)		(6,419)		(9,813)
Income before income taxes	$	272,868	$	168,836	$	339,643	$	192,596

Schedule of revenue by reportable segment geographically distributed

Our revenue by reportable segment for the year ended December 31, 2022, six months ended December 31, 2021 and fiscal years ended June 30, 2021 and 2020 is geographically distributed as shown in the following table (amounts in thousands):

	Year Ended		Six Months Ended		Fiscal Years Ended
	December 31,		December 31,		June 30,		June 30,
	2022		2021		2021		2020
Stream interests:
Canada	$	212,369	$	115,544	$	190,537	$	158,736
Dominican Republic		85,863		52,958		115,583		96,978
Chile		47,347		28,075		82,164		74,219
Africa		53,787		22,228		35,705		29,935
Rest of world		18,427		7,746		—		—
Total stream interests	$	417,793	$	226,551	$	423,989	$	359,868
Royalty interests:
United States	$	81,642	$	54,046	$	68,611	$	48,692
Canada		27,210		13,756		31,671		30,524
Mexico		52,388		31,858		58,212		32,731
Australia		15,672		11,174		21,466		15,252
Africa		316		1,107		2,801		2,575
Rest of world		8,185		4,460		9,106		9,177
Total royalty interests	$	185,413	$	116,401	$	191,867	$	138,951
Total revenue	$	603,206	$	342,952	$	615,856	$	498,819