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SEGMENT INFORMATION | 3 Months Ended
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Mar. 31, 2023
SEGMENT INFORMATION |
SEGMENT INFORMATION | 9. 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 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
​ 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.
​ 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
​ 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
​

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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