Retirement Plans

3 Months Ended

Aug. 31, 2022

Retirement Benefits [Abstract]

Retirement Plans

(6) Retirement Plans

We sponsor programs that provide retirement benefits to most of our employees. These programs include defined benefit pension plans, defined contribution plans, and postretirement healthcare plans. Key terms of our retirement plans are provided in our Annual Report.

Our retirement plans costs for the three-month periods ended August 31 were as follows (in millions):

	2022		2021
Defined benefit pension plans, net	$	59	$	(3	)
Defined contribution plans		244		180
Postretirement healthcare plans		23		22
	$	326	$	199

Net periodic benefit cost of the pension and postretirement healthcare plans for the three-month periods ended August 31 included the following components (in millions):

	U.S. Pension Plans						International Pension Plans						Postretirement Healthcare Plans
	2022			2021			2022			2021			2022		2021
Service cost	$	163		$	208		$	11		$	15		$	9	$	12
Other retirement plans expense (income):
Interest cost		304			256			9			12			14		10
Expected return on plan assets		(422	)		(478	)		(4	)		(14	)		—		—
Amortization of prior service credit and other		(2	)		(2	)		—			—			—		—
		(120	)		(224	)		5			(2	)		14		10
	$	43		$	(16	)	$	16		$	13		$	23	$	22

For 2023, no pension contributions are required for our tax-qualified U.S. domestic pension plans (“U.S. Pension Plans”) as they are fully funded under the Employee Retirement Income Security Act. We made voluntary contributions to our U.S. Pension Plans of $400 million during the first quarter of 2023.