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SEGMENT INFORMATION | 12 Months Ended
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Jun. 30, 2019
SEGMENT INFORMATION |
SEGMENT INFORMATION | 13. SEGMENT INFORMATION The Company manages its 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 June 30, 2019 and 2018 are geographically distributed as shown in the following table (amounts in thousands):
|  | As of June 30, 2019 |  | As of June 30, 2018
|  |  |  |  |  |  |  | Total stream |  |  |  |  |  |  |  |  |  |  | Total stream
|  | Stream |  | Royalty |  | and royalty |  | Stream |  | Royalty |  |  |  |  | and royalty
|  | interest |  | interest |  | interests, net |  | interest |  | interest |  | Impairments |  | interests, net
Canada |  | $ | 767,749 |  | $ | 200,251 |  | $ | 968,000 |  | $ | 809,500 |  | $ | 214,562 |  | $ | (284) |  | $ | 1,023,778
Dominican Republic |  |  | 451,585 |  |  | — |  |  | 451,585 |  |  | 495,460 |  |  | — |  |  | — |  |  | 495,460
Chile |  |  | 301,507 |  |  | 214,226 |  |  | 515,733 |  |  | 328,331 |  |  | 453,306 |  |  | (239,080) |  |  | 542,557
Africa |  |  | 89,555 |  |  | 321 |  |  | 89,876 |  |  | 104,874 |  |  | 502 |  |  | — |  |  | 105,376
Mexico |  |  | — |  |  | 83,748 |  |  | 83,748 |  |  | — |  |  | 93,277 |  |  | — |  |  | 93,277
United States |  |  | — |  |  | 163,398 |  |  | 163,398 |  |  | — |  |  | 165,543 |  |  | — |  |  | 165,543
Australia |  |  | — |  |  | 31,944 |  |  | 31,944 |  |  | — |  |  | 34,254 |  |  | — |  |  | 34,254
Rest of world |  |  | 12,039 |  |  | 22,993 |  |  | 35,032 |  |  | 12,039 |  |  | 28,833 |  |  | — |  |  | 40,872
Total |  | $ | 1,622,435 |  | $ | 716,881 |  | $ | 2,339,316 |  | $ | 1,750,204 |  | $ | 990,277 |  | $ | (239,364) |  | $ | 2,501,117
The Company’s reportable segments for purposes of assessing performance are shown below (amounts in thousands):
|  | Fiscal Year Ended June 30, 2019
|  | Revenue |  | Cost of sales |  | Production taxes |  | Depletion |  | Segment gross profit
Stream interests |  | $ | 305,824 |  | $ | 77,535 |  | $ | — |  | $ | 127,770 |  | $ | 100,519
Royalty interests |  |  | 117,232 |  |  | — |  |  | 4,112 |  |  | 35,086 |  |  | 78,034
Total |  | $ | 423,056 |  | $ | 77,535 |  | $ | 4,112 |  | $ | 162,856 |  | $ | 178,553
|  | Fiscal Year Ended June 30, 2018
|  | Revenue |  | Cost of sales |  | Production taxes |  | Depletion |  | Segment gross profit
Stream interests |  | $ | 324,516 |  | $ | 83,839 |  | $ | — |  | $ | 129,662 |  | $ | 111,015
Royalty interests |  |  | 134,526 |  |  | — |  |  | 2,268 |  |  | 33,924 |  |  | 98,334
Total |  | $ | 459,042 |  | $ | 83,839 |  | $ | 2,268 |  | $ | 163,586 |  | $ | 209,349
|  | Fiscal Year Ended June 30, 2017
|  | Revenue |  | Cost of sales |  | Production taxes |  | Depletion |  | Segment gross profit
Stream interests |  | $ | 314,011 |  | $ | 87,265 |  | $ | — |  | $ | 121,530 |  | $ | 105,216
Royalty interests |  |  | 126,803 |  |  | — |  |  | 1,760 |  |  | 38,023 |  |  | 87,020
Total |  | $ | 440,814 |  | $ | 87,265 |  | $ | 1,760 |  | $ | 159,553 |  | $ | 192,236
A reconciliation of total segment gross profit to the consolidated Income (loss) before income taxes is shown below (amounts in thousands):
|  | Fiscal Year Ended June 30,
|  |  | 2019 |  |  | 2018 |  |  | 2017
Total segment gross profit |  | $ | 178,553 |  | $ | 209,349 |  | $ | 192,236
Costs and expenses |  |  |  |  |  |  |  |  |
General and administrative expenses |  |  | 30,488 |  |  | 35,464 |  |  | 33,350
Exploration costs |  |  | 7,158 |  |  | 8,946 |  |  | 12,861
Depreciation |  |  | 200 |  |  | 110 |  |  | 83
Impairment of royalty interests |  |  | — |  |  | 239,364 |  |  | —
Operating income (loss) |  |  | 140,707 |  |  | (74,535) |  |  | 145,942
Fair value changes in equity securities |  |  | (6,800) |  |  | — |  |  | —
Interest and other income |  |  | 2,320 |  |  | 4,170 |  |  | 9,302
Interest and other expense |  |  | (29,650) |  |  | (34,214) |  |  | (36,378)
Income (loss) before income taxes |  | $ | 106,577 |  | $ | (104,579) |  | $ | 118,866
The Company’s revenue by reportable segment for the fiscal year’s ended June 30, 2019, 2018 and 2017 is geographically distributed as shown in the following table (amounts in thousands):
|  | Fiscal Year Ended June 30,
|  | 2019 |  | 2018 |  | 2017
Stream interests: |  |  |  |  |  |  |  |  |
Canada |  | $ | 123,152 |  | $ | 142,244 |  | $ | 136,736
Dominican Republic |  |  | 82,844 |  |  | 95,055 |  |  | 91,589
Chile |  |  | 69,264 |  |  | 57,413 |  |  | 60,251
Africa |  |  | 30,564 |  |  | 29,804 |  |  | 25,435
Total stream interests |  | $ | 305,824 |  | $ | 324,516 |  | $ | 314,011
Royalty interests: |  |  |  |  |  |  |  |  |
United States |  | $ | 34,845 |  | $ | 39,496 |  | $ | 35,282
Canada |  |  | 32,602 |  |  | 24,254 |  |  | 23,208
Mexico |  |  | 27,224 |  |  | 42,959 |  |  | 41,945
Australia |  |  | 12,806 |  |  | 13,710 |  |  | 12,943
Africa |  |  | 1,416 |  |  | 2,098 |  |  | 3,131
Chile |  |  | — |  |  | 473 |  |  | 1,648
Rest of world |  |  | 8,339 |  |  | 11,536 |  |  | 8,646
Total royalty interests |  | $ | 117,232 |  | $ | 134,526 |  | $ | 126,803
Total revenue |  | $ | 423,056 |  | $ | 459,042 |  | $ | 440,814

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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