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SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of geographical distribution of long-lived assets


	As of March 31, 2023						As of December 31, 2022
					Total stream						Total stream
	Stream		Royalty		and royalty		Stream		Royalty		and royalty
	interest		interest		interests, net		interest		interest		interests, net
Canada	$	497,010	$	617,542	$	1,114,552	$	511,957	$	620,549	$	1,132,506
Dominican Republic		317,903		—		317,903		320,867		—		320,867
Africa		290,125		321		290,446		299,722		321		300,043
Chile		232,563		224,116		456,679		236,312		224,116		460,428
United States		—		816,336		816,336		—		823,203		823,203
Mexico		—		47,936		47,936		—		50,156		50,156
Australia		—		21,949		21,949		—		22,120		22,120
Rest of world		98,945		26,639		125,584		101,440		26,639		128,079
Total	$	1,436,546	$	1,754,839	$	3,191,385	$	1,470,298	$	1,767,104	$	3,237,402

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, 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

	Three Months Ended March 31, 2022
	Revenue		Cost of sales⁽¹⁾		Production taxes		Depletion ⁽²⁾		Segment gross profit
Stream interests	$	105,251	$	22,639	$	—	$	36,378	$	46,234
Royalty interests		57,104		—		2,221		11,485		43,398
Total	$	162,355	$	22,639	$	2,221	$	47,863	$	89,632

(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,		March 31,
		2023		2022
Total segment gross profit	$	97,169	$	89,632

Costs and expenses
General and administrative expenses		11,000		8,931
Depreciation and amortization		114		125
Operating income		86,055		80,576
Fair value changes in equity securities		799		613
Interest and other income		2,263		975
Interest and other expense		(9,175)		(898)
Income before income taxes	$	79,942	$	81,266

Schedule of revenue by reportable segment geographically distributed

Our revenue by reportable segment for the three months ended March 31, 2023 and 2022 is geographically distributed as shown in the following table (amounts in thousands):


	Three Months Ended
	March 31,		March 31,
	2023		2022
Stream interests:
Canada	$	56,981	$	51,485
Dominican Republic		22,358		23,264
Chile		12,934		15,674
Africa		17,539		8,446
Rest of world		5,178		6,382
Total stream interests	$	114,990	$	105,251

Royalty interests:
United States	$	33,581	$	24,358
Mexico		9,295		15,881
Canada		6,591		10,778
Australia		4,099		4,046
Africa		—		316
Rest of world		1,836		1,725
Total royalty interests	$	55,402	$	57,104
Total revenue	$	170,392	$	162,355