We are given the function:
\[
f(x) = \frac{x^2 - 1}{|x| - 1}.
\]
We are asked to find the limit of \( f(x) \) as \( x \) approaches 1.
Step 1: Simplify the expression
We first notice that \( x^2 - 1 = (x - 1)(x + 1) \), so we can rewrite the function as:
\[
f(x) = \frac{(x - 1)(x + 1)}{|x| - 1}.
\]
Now, we examine the behavior of the function near \( x = 1 \).
Step 2: Evaluate the limit
For \( x \to 1 \), we need to consider the behavior of \( |x| - 1 \). Since \( |x| = x \) for \( x > 0 \), we have:
\[
|x| - 1 = x - 1 \text{for} x > 1.
\]
Substituting this into the function:
\[
f(x) = \frac{(x - 1)(x + 1)}{x - 1}.
\]
For \( x \neq 1 \), we can cancel out the \( (x - 1) \) term:
\[
f(x) = x + 1.
\]
Now, take the limit as \( x \to 1 \):
\[
\lim_{x \to 1} f(x) = 1 + 1 = 2.
\]
Thus, the value of the limit is \( \boxed{2} \).