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Retirement Plans
3 Months Ended
Aug. 31, 2015
Retirement Plans [Abstract]  
Retirement Plans

(5) 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):

      2015 2014
Defined benefit pension plans      $ 53 $ (7)
Defined contribution plans   102   94
Postretirement healthcare plans   21   20
        $ 176 $ 107

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):

  Pension Plans Postretirement Healthcare Plans
  2015 2014 2015 2014
Service cost$ 166 $ 164 $ 10 $ 10
Interest cost  295   275   11   10
Expected return on plan assets  (377)   (420)   -   -
Amortization of prior service credit   (31)   (26)   -   -
  $ 53 $ (7) $ 21 $ 20

Contributions to our tax qualified U.S. domestic pension plans (“U.S. Pension Plans”) for the three-month periods ended August 31 were as follows (in millions):

  2015 2014 
Required$ 6 $ 82 
Voluntary  159   83 
  $ 165 $ 165 

In September 2015, we made an additional required contribution of $165 million to our U.S. Pension Plans. Our U.S. Pension Plans have ample funds to meet expected benefit payments.