Valuation And Qualifying Accounts

12 Months Ended

Dec. 31, 2011

Valuation And Qualifying Accounts [Abstract]

Valuation And Qualifying Accounts

Schedule II – Valuation and Qualifying Accounts

LEUCADIA NATIONAL CORPORATION AND SUBSIDIARIES

For the years ended December 31, 2011, 2010 and 2009

(In thousands)

			Additions							Deductions
			Charged
	Balance at		to Costs												Balance
	Beginning		and							Write					at End
Description	of Period		Expenses		Recoveries		Other			Offs		Other			of Period
2011
Allowance for
doubtful accounts	$	4,693	$	658	$	-	$	-		$	1,494	$	-		$	3,857
Deferred tax asset
valuation allowance	$	109,181	$	-	$	-	$	-		$	-	$	-		$	109,181
2010
Allowance for
doubtful accounts	$	3,971	$	1,094	$	2	$	-		$	374	$	-		$	4,693
Deferred tax asset
valuation allowance	$	1,835,161	$	-	$	-	$	-		$	-	$	1,725,980	(a)	$	109,181
2009
Allowance for
doubtful accounts	$	3,109	$	1,623	$	12	$	-		$	773	$	-		$	3,971
Deferred tax asset
valuation allowance	$	2,307,281	$	-	$	-	$	109,156	(b)	$	-	$	581,276	(c)	$	1,835,161

(a) During 2010, the Company's revised projections of future taxable income enabled it to conclude that it was more likely than not that it will have future taxable income sufficient to realize a significant portion of the Company's net deferred tax asset; accordingly, $1,157,111,000 of the deferred tax valuation allowance was reversed as a credit to income tax expense.

(b) Represents the tax effect of losses during 2009, which were reserved for in the deferred tax asset valuation allowance.

(c) Primarily represents the tax effect of the change in unrealized gains (losses) on investments.