星空传媒 Inc. Quarterly report pursuant to Section 13 or 15(d)

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2018
Income Tax Disclosure [Abstract]	听
Income Taxes	NOTE 11 - INCOME TAXES Our 2018 estimated annual effective tax rate before discrete items is approximately 0.1%. The annual effective tax rate differs from the U.S. statutory rate of 21.0% primarily due to the deductions for percentage depletion in excess of cost depletion related to U.S. operations and the reversal of valuation allowance from operations in the current year. The 2017 estimated annual effective tax rate before discrete items at June听30, 2017 was negative 3.6%. For the three and six months ended June听30, 2018, we recorded discrete items that resulted in an income tax benefit of $2.0 million and an expense of $13.7 million, respectively. The $2.0 million benefit relates to the reversal of a reserve for uncertain tax positions due to a lapse in the statute of limitations. The $13.7 million expense relates primarily to a $14.5 million reduction of the refundable AMT credit recorded in Income tax receivable in our Statements of Unaudited Condensed Consolidated Financial Position based on the sequestration guidance issued by the Internal Revenue Service during the first quarter of 2018. The $14.5 million current year expense is a reduction of an asset and will not result in a cash tax outlay. For the three and six months ended June听30, 2017, we recorded discrete items that resulted in an expense of $0.3 million and $0.2 million, respectively.