Selected Statements of Operations Data

		For the Fiscal Years Ended June 30,
(Amounts in thousands, except per share data)		2013		2012		2011		2010		2009
Royalty revenue	$	289,224	$	263,054	$	136,565	$	136,565	$	73,771
Adjusted EBITDA 6	$	260,805	$	237,616	$	190,172	$	100,068	$	61,706
Operating income	$	171,504	$	156,888	$	118,925	$	41,035	$	27,292
Net income	$	73,409	$	98,309	$	77,299	$	29,422	$	41,357
Net income attributable to Royal Gold stockholders 2, 3, 4, 5	$	69,153	$	92,476	$	71,395	$	29,422	$	38,348
Net income per share available to Royal Gold common stockholders:
Basic	$	1.09	$	1.61	$	1.29	$	0.49	$	1.09
Diluted	$	1.09	$	1.61	$	1.29	$	0.49	$	1.07
Dividends declared per common share 7	$	0.75	$	0.56	$	0.42	$	0.34	$	0.30

 

Selected Balance Sheet Data

		As of June 30,
(Amounts in thousands)		2013		2012		2011		2010		2009
Royalty interests in mineral properties, net	$	2,120,268	$	1,890,988	$	1,690,439	$	1,476,799	$	455,966
Total assets	$	2,905,341	$	2,373,045	$	1,902,702	$	1,865,333	$	809,924
Long-term debt, including current portion	$	302,263	$	293,248	$	226,100	$	248,500	$	19,250
Total liabilities	$	534,705	$	509,616	$	415,007	$	431,785	$	49,513
Total Royal Gold stockholders’ equity	$	2,348,887	$	1,460,162	$	1,460,162	$	1,403,716	$	749,441

 

1. The term “net income” represents net income available to Royal Gold shareholders as shown on the Company’s Consolidated Statement of Operations and Comprehensive Income in the Company’s Annual Report on Form 10-K.
2. Net income for FY2009 was impacted by two one-time gains related to the Barrick royalty portfolio acquisition and the Benso royalty buy-back by Golden Star. The effect of these gains was $0.62 per basic share after taxes.
3. Net income for FY2010 was impacted by pre-tax effects of severance and acquisition cost of $19.4 million, or $0.33 per share, related to the International Royalty Corporation transaction.
4. Net income for FY2012 was impacted by a royalty restructuring charge at Relief Canyon resulting in a $0.02 loss per basic share after taxes.
5. Net income for FY2013 was impacted by an impairment loss recognized on available-for-sale securities of $12.1 million, or $0.23 per basic share after taxes, in addition to increased depletion and interest expense.
6. The term “Adjusted EBITDA” is a non-GAAP financial measure. Adjusted EBITDA is defined by the Company as net income plus depreciation, depletion and amortization, non-cash charges, income tax expense, interest and other expense, and any impairment of mining assets, less non-controlling interests in operating income of consolidated subsidiaries, interest and other income, and any royalty portfolio restructuring gains or losses. See page 26 for a GAAP reconciliation.
7. Dividends are paid on a calendar year basis and do not correspond with the fiscal year dividend amounts shown in the Selected Financial Data. Fiscal 2013 dividends totaled $0.75 per share; calendar 2013 total includes estimated fourth quarter dividend.