ACCRUED LIABILITIES

12 Months Ended

Dec. 31, 2011

ACCRUED LIABILITIES

6.    ACCRUED LIABILITIES

A summary of accrued liabilities is as follows:

	VERSO PAPER				VERSO HOLDINGS
	December 31,				December 31,
(Dollars in thousands)	2011		2010		2011		2010
Accrued interest	$	49,197	$	49,493	$	48,391	$	48,606
Payroll and employee benefit costs		48,930		47,981		48,930		47,981
Accrued sales rebates		15,039		13,677		15,039		13,677
Restructuring costs		10,763		-		10,763		-
Derivatives		10,047		2,327		10,047		2,327
Accrued taxes - other than income		1,672		1,461		1,404		1,461
Freight and other		5,108		4,871		5,108		4,871
Accrued liabilities	$	140,756	$	119,810	$	139,682	$	118,923