Basic EPS was computed using the weighted average number of shares of common stock outstanding during the period, considering the effect of participating securities. Unvested stock-based compensation awards that contain non-forfeitable rights to dividends or dividend equivalents are considered participating securities and are included in the computation of EPS pursuant to the two-class method. Our unvested restricted stock awards contain non-forfeitable dividend rights and participate equally with common stock with respect to dividends issued or declared. Our unexercised stock option awards, unexercised stock-settled stock appreciation rights and unvested performance stock do not contain rights to dividends. Under the two-class method, the earnings used to determine basic EPS are reduced by an amount allocated to participating securities. Use of the two-class method has an immaterial impact on the calculation of basic and diluted EPS.


	Three Months Ended				Six Months Ended
	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Net income attributable to Royal Gold common stockholders	$	132,349	$	81,208	$	245,847	$	128,372
Weighted-average shares for basic EPS	65,748,410		65,650,801		65,726,903		65,644,115
Effect of other dilutive securities	72,120		116,737		79,257		109,784
Weighted-average shares for diluted EPS	65,820,530		65,767,538		65,806,160		65,753,899
Basic EPS	$	2.01	$	1.23	$	3.73	$	1.95
Diluted EPS	$	2.01	$	1.23	$	3.73	$	1.95