Retirement Plans

6 Months Ended

Nov. 30, 2015

(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 periods ended November 30 were as follows (in millions):

	Three Months Ended				Six Months Ended
	2015		2014		2015		2014
Defined benefit pension plans	$	54	$	(10)	$	107	$	(17)
Defined contribution plans		103		94		205		188
Postretirement healthcare plans		20		20		41		40
	$	177	$	104	$	353	$	211

Net periodic benefit cost of the pension and postretirement healthcare plans for the periods ended November 30 included the following components (in millions):

		Three Months Ended				Six Months Ended
Pension Plans		2015		2014		2015		2014
	Service cost	$	165	$	164	$	331	$	328
	Interest cost		295		275		590		550
	Expected return on plan assets		(377)		(420)		(754)		(840)
	Amortization of prior service credit		(29)		(29)		(60)		(55)
		$	54	$	(10)	$	107	$	(17)


		Three Months Ended				Six Months Ended
Postretirement Healthcare Plans		2015		2014		2015		2014
	Service cost	$	10	$	10	$	20	$	20
	Interest cost		10		10		21		20
		$	20	$	20	$	41	$	40

Contributions to our tax qualified U.S. domestic pension plans (“U.S. Pension Plans”) for the six-month periods ended November 30 were as follows (in millions):

	2015		2014
Required	$	8	$	247
Voluntary		322		83
	$	330	$	330

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