The Company adopted the new accounting standard, Statement of Position 98-5, "Reporting on the Costs of Start-up Activities," which requires that pre-opening and other start-up costs be expensed as incurred rather than capitalized. The adoption was made effective as of the beginning of the Company's 1998 fiscal year. As a result of the adoption, the Company expenses start-up cost as incurred rather than through future amortization. The cumulative effect of the change in accounting principle, which was approximately $4,880,000 net of income taxes or $0.06 per share diluted, was recorded as a one-time charge in the Company's 1998 Financial Statements.