Many academic and research libraries are in the midst of a major transition for various parts of their collections—a shift from print to electronic format. Libraries that had long subscribed only to print versions of journals are, in increasing numbers, licensing electronic versions to replace the print. What effects will this transition have on library operations and on nonsubscription expenditures? To answer this question, we collected data on staff activities and costs from 11 U.S. academic libraries, performing a life-cycle analysis to study the longer-term cost implications of the transition.