text: SFAS 123(R) must be adopted by public companies no later than July 1, 2005. Early adoption will be 
  permitted in periods in which Ñnancial statements have not been issued. We expect to adopt SFAS 123(R) on 
  July 1, 2005. 
  
  SFAS 123(R) permits public companies to adopt its requirements using one of two methods: 
  
  1. A ""modiÑed-prospective'' method in which compensation cost is recognized beginning with the 
  eÅective date (a) based on the requirements of SFAS 123(R) for all share-based payments granted after 
  the eÅective date and (b) based on the requirements of SFAS 123 for all awards granted to employees 
  prior to the eÅective date of SFAS 123(R) that remain unvested on the eÅective date. 
  
  2. A ""modiÑed-retrospective'' method which includes the requirements of the modiÑed-prospective 
  method described above, but also permits entities to restate based on the amounts previously reÖected in 
  their SFAS 123 pro forma disclosures either (a) all prior periods presented or (b) prior interim periods of 
  the year of adoption. 