ROYAL GOLD INC

For the period ended Dec 31, 2023. Filed Feb 15, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 15, 2024

RGLD$274.57-2.9%Stored close · as of Nov 10, 2026

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Contents

Item 8. CONSOLIDATED STATEMENTS OF CASH FLOWS

Consolidated Statements of Cash Flows

(In thousands)


· · Years Ended · · Six Months Ended · · Fiscal Year Ended
· · December 31, · · December 31, · · December 31, · · June 30,
	2023		2022		2021		2021
Cash flows from operating activities:
Net income and comprehensive income		$240,132		$239,942		$138,828		$302,776
Adjustments to reconcile net income and comprehensive income to net cash provided by operating activities:
Depreciation, depletion and amortization		164,937		178,935		99,685		183,569
Gain on sale of Peak Gold JV interest		—		—		—		(33,906)
Non-cash employee stock compensation expense		9,696		8,411		3,218		5,730
Fair value changes in equity securities		147		1,503		1,350		(6,017)
Deferred tax (benefit) expense		(6,469)		(19,836)		2,510		456
Impairment of royalty interests		—		4,287		—		—
Other		779		979		1,090		971
Changes in assets and liabilities:
Royalty receivables		521		4,683		(6,846)		(19,552)
Stream inventory		2,868		(1,049)		6,077		(6,014)
Income tax receivable		390		1,849		(396)		(2,085)
Prepaid expenses and other assets		(4,369)		(3,908)		(1,374)		318
Accounts payable		4,756		211		76		3,237
Income tax payable		(508)		(3,005)		4,591		1,156
Uncertain tax positions		—		—		(910)		(24,518)
Other liabilities		2,912		4,343		884		1,030
Net cash provided by operating activities		$415,792		$417,345		$248,783		$407,151

Cash flows from investing activities:
Acquisition of stream and royalty interests		(2,678)		(922,155)		(281,066)		(168,147)
Khoemacau subordinated debt facility		—		—		(7,000)		(18,000)
Proceeds from sale of Peak Gold JV interest		—		—		—		49,154
Proceeds from sale of Contango shares		—		—		—		12,146
Proceeds from sale of equity securities		—		—		—		8,651
Other		(151)		(721)		(64)		(541)
Net cash used in investing activities		$(2,829)		$(922,876)		$(288,130)		$(116,737)

Cash flows from financing activities:
Repayment of debt		(325,000)		(125,000)		(100,000)		(305,000)
Borrowings from revolving credit facility		—		700,000		100,000		—
Net payments from issuance of common stock		(1,383)		(1,447)		(921)		(1,465)
Common stock dividends		(98,567)		(91,925)		(39,374)		(76,099)
Other		(2,432)		(1,062)		(2,723)		(1,062)
Net cash (used in) provided by financing activities		$(427,382)		$480,566		$(43,018)		$(383,626)
Net decrease in cash and equivalents		(14,419)		(24,965)		(82,365)		(93,212)
Cash and equivalents at beginning of period		118,586		143,551		225,916		319,128
Cash and equivalents at end of period		$104,167		$118,586		$143,551		$225,916

See Note 11 for supplemental cash flow information.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.