INCOME TAXES	6 Months Ended
Mar. 31, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES We have historically calculated the provision for income taxes during interim reporting periods by applying an estimate of the annual effective tax rate for the full fiscal year to “ordinary” income or loss (pretax income or loss excluding unusual or infrequently occurring discrete items) for the reporting period. Beginning with the prior reporting period, we used a discrete effective tax rate method to calculate taxes for the three months ended March 31, 2017. We determined that since small changes in estimated “ordinary” income would result in significant changes in the estimated annual effective tax rate that the historical annualized method would not provide a reliable estimate for the three months ended March 31, 2017. We anticipate that we will utilize the discrete effective tax rate method to calculate taxes for the remainder of the fiscal year. Our estimated consolidated effective income tax rate for the three and six months ended March 31, 2017 was approximately (6)% and (26)%, respectively, as compared to 10% and 13% for the three and six months ended March 31, 2016, respectively. The effective tax rate for the six months ended March 31, 2017 was lower than the rate for the six months ended March 31, 2016, primarily due to a significant drop in pre-tax earnings due primarily to the non-cash impairment charge against the Atwood Eagle as the charge did not result in a corresponding reduction to our provision for income tax. Our effective tax rate was lower than the U.S. statutory rate primarily due to the non-cash impairment charge against the Atwood Eagle in addition to the Company working in certain lower tax rate jurisdictions outside the United States. We record estimated accrued interest and penalties related to uncertain tax positions as income tax expense. As of March 31, 2017, we had approximately $16.4 million of reserves for uncertain tax positions, including estimated accrued interest and penalties of $3.7 million, which are included in Other long-term liabilities in the Unaudited Condensed Consolidated Balance Sheet. None of our reserves for uncertain tax positions relate to timing differences. All of the net uncertain tax liabilities would affect the effective tax rate if realized.

INCOME TAXES

We have historically calculated the provision for income taxes during interim reporting periods by applying an estimate of the annual effective tax rate for the full fiscal year to “ordinary” income or loss (pretax income or loss excluding unusual or infrequently occurring discrete items) for the reporting period. Beginning with the prior reporting period, we used a discrete effective tax rate method to calculate taxes for the three months ended March 31, 2017. We determined that since small changes in estimated “ordinary” income would result in significant changes in the estimated annual effective tax rate that the historical annualized method would not provide a reliable estimate for the three months ended March 31, 2017. We anticipate that we will utilize the discrete effective tax rate method to calculate taxes for the remainder of the fiscal year.

Our estimated consolidated effective income tax rate for the three and six months ended March 31, 2017 was approximately (6)% and (26)%, respectively, as compared to 10% and 13% for the three and six months ended March 31, 2016, respectively. The effective tax rate for the six months ended March 31, 2017 was lower than the rate for the six months ended March 31, 2016, primarily due to a significant drop in pre-tax earnings due primarily to the non-cash impairment charge against the Atwood Eagle as the charge did not result in a corresponding reduction to our provision for income tax.

Our effective tax rate was lower than the U.S. statutory rate primarily due to the non-cash impairment charge against the Atwood Eagle in addition to the Company working in certain lower tax rate jurisdictions outside the United States. We record estimated accrued interest and penalties related to uncertain tax positions as income tax expense. As of March 31, 2017, we had approximately $16.4 million of reserves for uncertain tax positions, including estimated accrued interest and penalties of $3.7 million, which are included in Other long-term liabilities in the Unaudited Condensed Consolidated Balance Sheet. None of our reserves for uncertain tax positions relate to timing differences. All of the net uncertain tax liabilities would affect the effective tax rate if realized.