XML 39 R28.htm IDEA: XBRL DOCUMENT
v3.25.3

SEGMENT INFORMATION (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of geographical distribution of long-lived assets | Royal Gold's long-lived assets (stream and royalty interests, net) are geographically distributed as shown in the following table (amounts in thousands):
| As of September 30, 2025 |  | As of December 31, 2024
| Stream interest |  | Royalty interest |  | Total stream and royalty interests, net |  | Stream interest |  | Royalty interest |  | Total stream and royalty interests, net
Africa | 1,219,873 |  |  | 321 |  |  | 1,220,194 |  |  | 237,028 |  |  | 321 |  |  | 237,349 |
Canada | 392,140 |  |  | 660,631 |  |  | 1,052,771 |  |  | 417,643 |  |  | 659,070 |  |  | 1,076,713 |
Dominican Republic | 295,004 |  |  | — |  |  | 295,004 |  |  | 302,122 |  |  | — |  |  | 302,122 |
Chile | 203,428 |  |  | 224,116 |  |  | 427,544 |  |  | 211,123 |  |  | 224,116 |  |  | 435,239 |
United States | — |  |  | 801,697 |  |  | 801,697 |  |  | — |  |  | 827,277 |  |  | 827,277 |
Mexico | — |  |  | 28,967 |  |  | 28,967 |  |  | — |  |  | 33,800 |  |  | 33,800 |
Australia | — |  |  | 18,181 |  |  | 18,181 |  |  | — |  |  | 19,265 |  |  | 19,265 |
Rest of world | 227,497 |  |  | 30,376 |  |  | 257,873 |  |  | 85,254 |  |  | 25,785 |  |  | 111,039 |
Total | $ | 2,337,942 |  |  | $ | 1,764,289 |  |  | $ | 4,102,231 |  |  | $ | 1,253,170 |  |  | $ | 1,789,634 |  |  | $ | 3,042,804 |
Schedule of reportable segments for assessing performance | Our reportable segments for purposes of assessing performance are shown below (amounts in thousands):
| Three Months Ended September 30, 2025
| Revenue |  | Cost of sales(1) |  | Production taxes |  | Depletion(2) |  | Segment gross profit
Stream interests | $ | 166,081 |  |  | $ | 31,392 |  |  | $ | — |  |  | $ | 21,287 |  |  | $ | 113,402 |
Royalty interests | 85,987 |  |  | — |  |  | 2,418 |  |  | 11,534 |  |  | 72,035 |
Total | $ | 252,068 |  |  | $ | 31,392 |  |  | $ | 2,418 |  |  | $ | 32,821 |  |  | $ | 185,437 |
| Three Months Ended September 30, 2024
| Revenue |  | Cost of sales(1) |  | Production taxes |  | Depletion(2) |  | Segment gross profit
Stream interests | $ | 133,052 |  |  | $ | 27,192 |  |  | $ | — |  |  | $ | 26,674 |  |  | $ | 79,186 |
Royalty interests | 60,785 |  |  | — |  |  | 1,520 |  |  | 9,417 |  |  | 49,848 |
Total | $ | 193,837 |  |  | $ | 27,192 |  |  | $ | 1,520 |  |  | $ | 36,091 |  |  | $ | 129,034 |
| Nine Months Ended September 30, 2025
| Revenue |  | Cost of sales(1) |  | Production taxes |  | Depletion(2) |  | Segment gross profit
Stream interests | $ | 421,754 |  |  | $ | 80,077 |  |  | $ | — |  |  | $ | 60,910 |  |  | $ | 280,767 |
Royalty interests | 233,394 |  |  | — |  |  | 6,381 |  |  | 35,897 |  |  | 191,116 |
Total | $ | 655,148 |  |  | $ | 80,077 |  |  | $ | 6,381 |  |  | $ | 96,807 |  |  | $ | 471,883 |
| Nine Months Ended September 30, 2024
| Revenue |  | Cost of sales(1) |  | Production taxes |  | Depletion(2) |  | Segment gross profit
Stream interests | $ | 358,531 |  |  | $ | 73,116 |  |  | $ | — |  |  | $ | 80,199 |  |  | $ | 205,216 |
Royalty interests | 158,304 |  |  | — |  |  | 4,550 |  |  | 30,234 |  |  | 123,520 |
Total | $ | 516,835 |  |  | $ | 73,116 |  |  | $ | 4,550 |  |  | $ | 110,433 |  |  | $ | 328,736 |
_______________________________________________ (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 |  | Nine Months Ended
| September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
Total segment gross profit | $ | 185,437 |  |  | $ | 129,034 |  |  | $ | 471,883 |  |  | $ | 328,736 |
Costs and expenses |  |  |  |  |  |  |
General and administrative expenses | 10,213 |  |  | 10,102 |  |  | 31,545 |  |  | 32,025 |
Depreciation and amortization | 82 |  |  | 86 |  |  | 244 |  |  | 256 |
Acquisition related costs | 12,798 |  |  | — |  |  | 12,798 |  |  | — |
Operating income | 162,344 |  |  | 118,846 |  |  | 427,296 |  |  | 296,455 |
Fair value changes in equity securities | — |  |  | (425) |  |  | (35) |  |  | (42) |
Interest and other income | 6,781 |  |  | 626 |  |  | 11,544 |  |  | 4,410 |
Interest and other expense | (8,616) |  |  | (1,207) |  |  | (11,317) |  |  | (8,330) |
Income before income taxes | $ | 160,509 |  |  | $ | 117,840 |  |  | $ | 427,488 |  |  | $ | 292,493 |
Schedule of revenue by reportable segment geographically distributed | Our revenue by reportable segment for the three and nine months ended September 30, 2025 and 2024, is geographically distributed as shown in the following table (amounts in thousands):
| Three Months Ended |  | Nine Months Ended
| September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
Stream interests: |  |  |  |  |  |  |
Canada | $ | 82,364 |  |  | $ | 66,372 |  |  | $ | 208,344 |  |  | $ | 173,737 |
Dominican Republic | 28,140 |  |  | 26,585 |  |  | 82,509 |  |  | 64,147 |
Africa | 27,288 |  |  | 19,973 |  |  | 70,055 |  |  | 59,470 |
Chile | 23,022 |  |  | 9,652 |  |  | 45,255 |  |  | 31,949 |
Rest of world | 5,267 |  |  | 10,470 |  |  | 15,591 |  |  | 29,228 |
Total stream interests | $ | 166,081 |  |  | $ | 133,052 |  |  | $ | 421,754 |  |  | $ | 358,531 |
Royalty interests: |  |  |  |  |  |  |
United States | $ | 37,080 |  |  | $ | 34,131 |  |  | $ | 105,478 |  |  | $ | 83,484 |
Mexico | 19,957 |  |  | 10,853 |  |  | 54,659 |  |  | 34,509 |
Canada | 14,439 |  |  | 5,269 |  |  | 32,070 |  |  | 13,435 |
Australia | 10,589 |  |  | 7,476 |  |  | 28,362 |  |  | 19,498 |
Rest of world | 3,922 |  |  | 3,056 |  |  | 12,825 |  |  | 7,378 |
Total royalty interests | $ | 85,987 |  |  | $ | 60,785 |  |  | $ | 233,394 |  |  | $ | 158,304 |
Total revenue | $ | 252,068 |  |  | $ | 193,837 |  |  | $ | 655,148 |  |  | $ | 516,835 |

X
- Definition Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_LongLivedAssetsByGeographicAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration