Retirement Plans (Tables)
|
12 Months Ended |
May 31, 2019 |
Retirement Plan Tables [Abstract] |
|
Schedule of Retirement Plan Costs |
A summary of our retirement plans costs over the past three years is as follows (in millions):
|
|
2019 |
|
|
2018 |
|
|
2017 |
|
Defined benefit pension plans |
|
$ |
111 |
|
|
$ |
150 |
|
|
$ |
234 |
|
Defined contribution plans |
|
|
561 |
|
|
|
527 |
|
|
|
480 |
|
Postretirement healthcare plans |
|
|
75 |
|
|
|
74 |
|
|
|
76 |
|
Retirement plans mark-to-market loss (gain) |
|
|
3,882 |
|
|
|
(10 |
) |
|
|
(24 |
) |
|
|
$ |
4,629 |
|
|
$ |
741 |
|
|
$ |
766 |
|
The components of the MTM adjustments are as follows (in millions):
|
|
2019 |
|
|
2018 |
|
|
2017 |
|
Discount rate change |
|
$ |
1,780 |
|
|
$ |
(613 |
) |
|
$ |
266 |
|
Demographic experience: |
|
|
|
|
|
|
|
|
|
|
|
|
Current year actuarial loss |
|
|
739 |
|
|
|
419 |
|
|
|
268 |
|
Change in future assumptions |
|
|
887 |
|
|
|
(37 |
) |
|
|
182 |
|
Actual versus expected return on assets |
|
|
476 |
|
|
|
11 |
|
|
|
(740 |
) |
Annuity contract purchase |
|
|
— |
|
|
|
210 |
|
|
|
— |
|
Total mark-to-market loss (gain) |
|
$ |
3,882 |
|
|
$ |
(10 |
) |
|
$ |
(24 |
) |
|
Schedule of Weighted-Average Actuarial Assumptions Used to Determine the Benefit Obligations and Net Periodic Benefit Cost of Plans |
Weighted-average actuarial assumptions used to determine the benefit obligations and net periodic benefit cost of our plans are as follows:
|
|
U.S. Pension Plans |
|
|
International Pension Plans |
|
|
Postretirement Healthcare Plans |
|
|
|
2019 |
|
|
2018 |
|
|
2017 |
|
|
2019 |
|
|
2018 |
|
|
2017 |
|
|
2019 |
|
|
2018 |
|
|
2017 |
|
Discount rate used to determine benefit
obligation |
|
|
3.85 |
% |
|
|
4.27 |
% |
|
|
4.08 |
% |
|
|
1.92 |
% |
|
|
2.37 |
% |
|
|
2.43 |
% |
|
|
3.70 |
% |
|
|
4.33 |
% |
|
|
4.32 |
% |
Discount rate used to determine net periodic
benefit cost |
|
|
4.27 |
|
|
|
4.08 |
|
|
|
4.13 |
|
|
|
2.34 |
|
|
|
2.43 |
|
|
|
2.46 |
|
|
|
4.33 |
|
|
|
4.32 |
|
|
|
4.43 |
|
Rate of increase in future compensation
levels used to determine benefit obligation |
|
|
5.10 |
|
|
|
4.43 |
|
|
|
4.47 |
|
|
|
2.27 |
|
|
|
2.26 |
|
|
|
2.42 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Rate of increase in future compensation levels
used to determine net periodic benefit cost |
|
|
4.43 |
|
|
|
4.47 |
|
|
|
4.46 |
|
|
|
2.22 |
|
|
|
2.42 |
|
|
|
2.82 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Expected long-term rate of return on assets |
|
|
6.75 |
|
|
|
6.50 |
|
|
|
6.50 |
|
|
|
3.12 |
|
|
|
3.09 |
|
|
|
3.18 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Interest crediting rate used to determine net
periodic benefit cost |
|
|
4.00 |
|
|
|
4.00 |
|
|
|
4.00 |
|
|
|
2.20 |
|
|
|
2.20 |
|
|
|
2.30 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Interest crediting rate used to determine
benefit obligation |
|
|
4.00 |
|
|
|
4.00 |
|
|
|
4.00 |
|
|
|
2.20 |
|
|
|
2.20 |
|
|
|
2.30 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Schedule of Plan Assets at Measurement Date |
The fair values of investments by level and asset category and the weighted-average asset allocations for our U.S. Pension Plans and our most significant international pension plans at the measurement date are presented in the following table (in millions):
|
|
Plan Assets at Measurement Date |
|
|
|
2019 |
|
Asset Class (U.S. Plans) |
|
Fair Value |
|
|
Actual % |
|
|
Target
Range
%(1) |
|
Quoted Prices in
Active Markets
Level 1 |
|
|
Other Observable
Inputs
Level 2 |
|
|
Unobservable
Inputs
Level 3 |
|
Cash and cash equivalents |
|
$ |
570 |
|
|
|
2 |
% |
|
0 - 5% |
|
$ |
50 |
|
|
$ |
520 |
|
|
|
|
|
Equities |
|
|
|
|
|
|
|
|
|
30 - 50 |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. large cap equity(2) |
|
|
2,546 |
|
|
|
11 |
|
|
|
|
|
875 |
|
|
|
|
|
|
|
|
|
International equities(2) |
|
|
3,306 |
|
|
|
14 |
|
|
|
|
|
2,700 |
|
|
|
|
|
|
|
|
|
Global equities(2) |
|
|
1,451 |
|
|
|
6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. SMID cap equity |
|
|
731 |
|
|
|
3 |
|
|
|
|
|
730 |
|
|
|
1 |
|
|
|
|
|
Fixed income securities |
|
|
|
|
|
|
|
|
|
50 - 70 |
|
|
|
|
|
|
|
|
|
|
|
|
Corporate |
|
|
6,794 |
|
|
|
29 |
|
|
|
|
|
|
|
|
|
6,794 |
|
|
|
|
|
Government(2) |
|
|
5,384 |
|
|
|
23 |
|
|
|
|
|
|
|
|
|
3,742 |
|
|
|
|
|
Mortgage-backed and other(2) |
|
|
622 |
|
|
|
3 |
|
|
|
|
|
|
|
|
|
175 |
|
|
|
|
|
Alternative investments(2) |
|
|
1,963 |
|
|
|
9 |
|
|
0 - 15 |
|
|
|
|
|
|
|
|
|
$ |
302 |
|
Other |
|
|
(47 |
) |
|
|
— |
|
|
|
|
|
(45 |
) |
|
|
(2 |
) |
|
|
|
|
Total U.S. plan assets |
|
$ |
23,320 |
|
|
|
100 |
% |
|
|
|
$ |
4,310 |
|
|
$ |
11,230 |
|
|
$ |
302 |
|
Asset Class (International Plans) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
57 |
|
|
|
4 |
|
|
|
|
$ |
57 |
|
|
|
|
|
|
|
|
|
Equities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
International equities(2) |
|
|
72 |
|
|
|
5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Global equities(2) |
|
|
206 |
|
|
|
15 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed income securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate(2) |
|
|
322 |
|
|
|
24 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Government(2) |
|
|
438 |
|
|
|
32 |
|
|
|
|
|
290 |
|
|
|
|
|
|
|
|
|
Mortgage-backed and other(2) |
|
|
167 |
|
|
|
12 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other(2) |
|
|
112 |
|
|
|
8 |
|
|
|
|
|
10 |
|
|
|
17 |
|
|
|
|
|
Total international plan assets |
|
$ |
1,374 |
|
|
|
100 |
% |
|
|
|
$ |
357 |
|
|
$ |
17 |
|
|
|
|
|
|
(1) |
Target ranges have not been provided for international plan assets as they are managed at an individual country level. |
|
(2) |
Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy but are included in the total. |
|
|
Plan Assets at Measurement Date |
|
|
|
2018 |
|
Asset Class (U.S. Plans) |
|
Fair Value |
|
|
Actual % |
|
|
Target
Range
%(1) |
|
Quoted Prices in
Active Markets
Level 1 |
|
|
Other Observable
Inputs
Level 2 |
|
|
Unobservable
Inputs
Level 3 |
|
Cash and cash equivalents |
|
$ |
714 |
|
|
|
3 |
% |
|
0 - 5% |
|
$ |
19 |
|
|
$ |
695 |
|
|
|
|
|
Equities |
|
|
|
|
|
|
|
|
|
30 - 50 |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. large cap equity(2) |
|
|
2,449 |
|
|
|
11 |
|
|
|
|
|
840 |
|
|
|
|
|
|
|
|
|
International equities(2) |
|
|
3,506 |
|
|
|
16 |
|
|
|
|
|
2,681 |
|
|
|
172 |
|
|
|
|
|
Global equities(2) |
|
|
1,772 |
|
|
|
8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. SMID cap equity |
|
|
780 |
|
|
|
4 |
|
|
|
|
|
780 |
|
|
|
|
|
|
|
|
|
Fixed income securities |
|
|
|
|
|
|
|
|
|
50 - 70 |
|
|
|
|
|
|
|
|
|
|
|
|
Corporate |
|
|
5,834 |
|
|
|
26 |
|
|
|
|
|
|
|
|
|
5,834 |
|
|
|
|
|
Government(2) |
|
|
4,872 |
|
|
|
22 |
|
|
|
|
|
|
|
|
|
3,345 |
|
|
|
|
|
Mortgage-backed and other(2) |
|
|
626 |
|
|
|
3 |
|
|
|
|
|
|
|
|
|
125 |
|
|
|
|
|
Alternative investments(2) |
|
|
1,573 |
|
|
|
7 |
|
|
0 - 10 |
|
|
|
|
|
|
|
|
|
$ |
209 |
|
Other |
|
|
(69 |
) |
|
|
— |
|
|
|
|
|
(62 |
) |
|
|
(7 |
) |
|
|
|
|
Total U.S. plan assets |
|
$ |
22,057 |
|
|
|
100 |
% |
|
|
|
$ |
4,258 |
|
|
$ |
10,164 |
|
|
$ |
209 |
|
Asset Class (International Plans) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
24 |
|
|
|
2 |
% |
|
|
|
$ |
2 |
|
|
$ |
22 |
|
|
|
|
|
Equities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
International equities(2) |
|
|
146 |
|
|
|
11 |
|
|
|
|
|
|
|
|
|
70 |
|
|
|
|
|
Global equities(2) |
|
|
228 |
|
|
|
17 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed income securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate(2) |
|
|
306 |
|
|
|
23 |
|
|
|
|
|
|
|
|
|
68 |
|
|
|
|
|
Government(2) |
|
|
452 |
|
|
|
34 |
|
|
|
|
|
108 |
|
|
|
256 |
|
|
|
|
|
Mortgage-backed and other(2) |
|
|
168 |
|
|
|
13 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Alternative investments |
|
|
19 |
|
|
|
2 |
|
|
|
|
|
|
|
|
|
19 |
|
|
|
|
|
Other |
|
|
(23 |
) |
|
|
(2 |
) |
|
|
|
|
(6 |
) |
|
|
(17 |
) |
|
|
|
|
Total international plan assets |
|
$ |
1,320 |
|
|
|
100 |
% |
|
|
|
$ |
104 |
|
|
$ |
418 |
|
|
|
|
|
|
(1) |
Target ranges have not been provided for international plan assets as they are managed at an individual country level. |
|
(2) |
Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy but are included in the total. |
|
Schedule of Change in Fair Value of Level 3 Assets |
The change in fair value of Level 3 assets that use significant unobservable inputs is shown in the table below (in millions):
|
|
U.S. Pension Plans |
|
|
|
2019 |
|
|
2018 |
|
Balance at beginning of year |
|
$ |
209 |
|
|
$ |
129 |
|
Actual return on plan assets: |
|
|
|
|
|
|
|
|
Assets held during current year |
|
|
11 |
|
|
|
8 |
|
Assets sold during the year |
|
|
13 |
|
|
|
4 |
|
Purchases, sales and settlements |
|
|
69 |
|
|
|
68 |
|
Balance at end of year |
|
$ |
302 |
|
|
$ |
209 |
|
|
Schedule of Changes in the Pension and Postretirement Healthcare Plans' Benefit Obligation and Fair Value of Assets and Funded Status |
The following tables provide a reconciliation of the changes in the pension and postretirement healthcare plans’ benefit obligations and fair value of assets over the two-year period ended May 31, 2019 and a statement of the funded status as of May 31, 2019 and 2018 (in millions):
|
|
U.S. Pension Plans |
|
|
International
Pension Plans |
|
|
Postretirement Healthcare Plans |
|
|
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
Accumulated Benefit Obligation (“ABO”) |
|
$ |
25,915 |
|
|
$ |
22,029 |
|
|
$ |
2,084 |
|
|
$ |
1,956 |
|
|
|
|
|
|
|
|
|
Changes in Projected Benefit Obligation (“PBO”)
and Accumulated Postretirement Benefit
Obligation (“APBO”) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PBO/APBO at the beginning of year |
|
$ |
22,653 |
|
|
$ |
27,870 |
|
|
$ |
2,167 |
|
|
$ |
2,043 |
|
|
$ |
955 |
|
|
$ |
927 |
|
Service cost |
|
|
689 |
|
|
|
679 |
|
|
|
94 |
|
|
|
97 |
|
|
|
35 |
|
|
|
36 |
|
Interest cost |
|
|
951 |
|
|
|
1,115 |
|
|
|
49 |
|
|
|
49 |
|
|
|
40 |
|
|
|
39 |
|
Actuarial loss |
|
|
3,016 |
|
|
|
21 |
|
|
|
127 |
|
|
|
(34 |
) |
|
|
266 |
|
|
|
(9 |
) |
Benefits paid |
|
|
(755 |
) |
|
|
(854 |
) |
|
|
(38 |
) |
|
|
(46 |
) |
|
|
(123 |
) |
|
|
(80 |
) |
Settlements |
|
|
— |
|
|
|
(6,178 |
) |
|
|
(13 |
) |
|
|
(5 |
) |
|
|
— |
|
|
|
— |
|
Other |
|
|
— |
|
|
|
— |
|
|
|
(85 |
) |
|
|
63 |
|
|
|
48 |
|
|
|
42 |
|
PBO/APBO at the end of year |
|
$ |
26,554 |
|
|
$ |
22,653 |
|
|
$ |
2,301 |
|
|
$ |
2,167 |
|
|
$ |
1,221 |
|
|
$ |
955 |
|
Change in Plan Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value of plan assets at the beginning of year |
|
$ |
22,057 |
|
|
$ |
24,933 |
|
|
$ |
1,509 |
|
|
$ |
1,379 |
|
|
$ |
— |
|
|
$ |
— |
|
Actual return on plan assets |
|
|
984 |
|
|
|
1,609 |
|
|
|
94 |
|
|
|
49 |
|
|
|
— |
|
|
|
— |
|
Company contributions |
|
|
1,034 |
|
|
|
2,547 |
|
|
|
91 |
|
|
|
84 |
|
|
|
73 |
|
|
|
42 |
|
Benefits paid |
|
|
(755 |
) |
|
|
(854 |
) |
|
|
(38 |
) |
|
|
(46 |
) |
|
|
(123 |
) |
|
|
(80 |
) |
Settlements |
|
|
— |
|
|
|
(6,178 |
) |
|
|
(13 |
) |
|
|
(5 |
) |
|
|
— |
|
|
|
— |
|
Other |
|
|
— |
|
|
|
— |
|
|
|
(65 |
) |
|
|
48 |
|
|
|
50 |
|
|
|
38 |
|
Fair value of plan assets at the end of year |
|
$ |
23,320 |
|
|
$ |
22,057 |
|
|
$ |
1,578 |
|
|
$ |
1,509 |
|
|
$ |
— |
|
|
$ |
— |
|
Funded Status of the Plans |
|
$ |
(3,234 |
) |
|
$ |
(596 |
) |
|
$ |
(723 |
) |
|
$ |
(658 |
) |
|
$ |
(1,221 |
) |
|
$ |
(955 |
) |
Amount Recognized in the Balance Sheet at May 31: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noncurrent asset |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
82 |
|
|
$ |
73 |
|
|
$ |
— |
|
|
$ |
— |
|
Current pension, postretirement healthcare and
other benefit obligations |
|
|
(70 |
) |
|
|
(22 |
) |
|
|
(16 |
) |
|
|
(16 |
) |
|
|
(87 |
) |
|
|
(62 |
) |
Noncurrent pension, postretirement healthcare
and other benefit obligations |
|
|
(3,164 |
) |
|
|
(574 |
) |
|
|
(789 |
) |
|
|
(715 |
) |
|
|
(1,134 |
) |
|
|
(893 |
) |
Net amount recognized |
|
$ |
(3,234 |
) |
|
$ |
(596 |
) |
|
$ |
(723 |
) |
|
$ |
(658 |
) |
|
$ |
(1,221 |
) |
|
$ |
(955 |
) |
Amounts Recognized in AOCI and not yet reflected
in Net Periodic Benefit Cost: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prior service (credit) cost and other |
|
$ |
(173 |
) |
|
$ |
(292 |
) |
|
$ |
(6 |
) |
|
$ |
(10 |
) |
|
$ |
1 |
|
|
$ |
2 |
|
|
Schedule of Components of Pension Plans |
Our pension plans included the following components at May 31 (in millions):
|
|
PBO |
|
|
Fair Value of
Plan Assets |
|
|
Funded Status |
|
2019 |
|
|
|
|
|
|
|
|
|
|
|
|
Qualified |
|
$ |
26,300 |
|
|
$ |
23,320 |
|
|
$ |
(2,980 |
) |
Nonqualified |
|
|
254 |
|
|
|
— |
|
|
|
(254 |
) |
International Plans |
|
|
2,301 |
|
|
|
1,578 |
|
|
|
(723 |
) |
Total |
|
$ |
28,855 |
|
|
$ |
24,898 |
|
|
$ |
(3,957 |
) |
2018 |
|
|
|
|
|
|
|
|
|
|
|
|
Qualified |
|
$ |
22,413 |
|
|
$ |
22,057 |
|
|
$ |
(356 |
) |
Nonqualified |
|
|
240 |
|
|
|
— |
|
|
|
(240 |
) |
International Plans |
|
|
2,167 |
|
|
|
1,509 |
|
|
|
(658 |
) |
Total |
|
$ |
24,820 |
|
|
$ |
23,566 |
|
|
$ |
(1,254 |
) |
|
Schedule of Fair Value of Plan Assets for Pension Plans with an Obligation in Excess of Plan Assets |
The table above provides the PBO, fair value of plan assets and funded status of our pension plans on an aggregated basis. The following tables present our plans on a disaggregated basis to show those plans (as a group) whose assets did not exceed their liabilities. The fair value of plan assets for pension plans with a PBO or ABO in excess of plan assets at May 31 were as follows (in millions):
|
|
PBO Exceeds the Fair Value
of Plan Assets |
|
|
|
2019 |
|
|
2018 |
|
U.S. Pension Benefits |
|
|
|
|
|
|
|
|
Fair value of plan assets |
|
$ |
23,320 |
|
|
$ |
22,057 |
|
PBO |
|
|
(26,554 |
) |
|
|
(22,653 |
) |
Net funded status |
|
$ |
(3,234 |
) |
|
$ |
(596 |
) |
International Pension Benefits |
|
|
|
|
|
|
|
|
Fair value of plan assets |
|
$ |
1,125 |
|
|
$ |
1,060 |
|
PBO |
|
|
(1,929 |
) |
|
|
(1,791 |
) |
Net funded status |
|
$ |
(804 |
) |
|
$ |
(731 |
) |
|
|
ABO Exceeds the Fair Value
of Plan Assets |
|
|
|
2019 |
|
|
2018 |
|
U.S. Pension Benefits |
|
|
|
|
|
|
|
|
ABO(1) |
|
$ |
(25,915 |
) |
|
$ |
(1,134 |
) |
Fair value of plan assets |
|
|
23,320 |
|
|
|
859 |
|
PBO |
|
|
(26,554 |
) |
|
|
(1,214 |
) |
Net funded status |
|
$ |
(3,234 |
) |
|
$ |
(355 |
) |
International Pension Benefits |
|
|
|
|
|
|
|
|
ABO(1) |
|
$ |
(1,709 |
) |
|
$ |
(1,581 |
) |
Fair value of plan assets |
|
|
1,120 |
|
|
|
1,060 |
|
PBO |
|
|
(1,925 |
) |
|
|
(1,791 |
) |
Net funded status |
|
$ |
(805 |
) |
|
$ |
(731 |
) |
(1) |
ABO not used in determination of funded status. |
|
Schedule of Contributions to Pension Plans |
Contributions to our U.S. Pension Plans for the years ended May 31 were as follows (in millions):
|
|
2019 |
|
|
2018 |
|
Required |
|
$ |
— |
|
|
$ |
22 |
|
Voluntary |
|
|
1,000 |
|
|
|
2,478 |
|
|
|
$ |
1,000 |
|
|
$ |
2,500 |
|
|
Schedule of Net Periodic Benefit Cost |
Net periodic benefit cost for the three years ended May 31 were as follows (in millions):
|
|
U.S. Pension Plans |
|
|
International Pension Plans |
|
|
Postretirement Healthcare Plans |
|
|
|
2019 |
|
|
2018 |
|
|
2017 |
|
|
2019 |
|
|
2018 |
|
|
2017 |
|
|
2019 |
|
|
2018 |
|
|
2017 |
|
Service cost |
|
$ |
689 |
|
|
$ |
679 |
|
|
$ |
638 |
|
|
$ |
94 |
|
|
$ |
97 |
|
|
$ |
83 |
|
|
$ |
35 |
|
|
$ |
36 |
|
|
$ |
36 |
|
Interest cost |
|
|
951 |
|
|
|
1,115 |
|
|
|
1,128 |
|
|
|
49 |
|
|
|
49 |
|
|
|
43 |
|
|
|
40 |
|
|
|
39 |
|
|
|
39 |
|
Expected return on plan assets |
|
|
(1,505 |
) |
|
|
(1,624 |
) |
|
|
(1,501 |
) |
|
|
(47 |
) |
|
|
(46 |
) |
|
|
(38 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Amortization of prior service credit |
|
|
(118 |
) |
|
|
(118 |
) |
|
|
(118 |
) |
|
|
(2 |
) |
|
|
(2 |
) |
|
|
(2 |
) |
|
|
— |
|
|
|
(1 |
) |
|
|
— |
|
Actuarial losses (gains) and other |
|
|
3,537 |
|
|
|
37 |
|
|
|
(95 |
) |
|
|
80 |
|
|
|
(38 |
) |
|
|
87 |
|
|
|
265 |
|
|
|
(9 |
) |
|
|
(14 |
) |
Net periodic benefit cost |
|
$ |
3,554 |
|
|
$ |
89 |
|
|
$ |
52 |
|
|
$ |
174 |
|
|
$ |
60 |
|
|
$ |
173 |
|
|
$ |
340 |
|
|
$ |
65 |
|
|
$ |
61 |
|
|
Schedule of Expected Future Benefit Payments |
Benefit payments, which reflect expected future service, are expected to be paid as follows for the years ending May 31 (in millions):
|
|
U.S. Pension Plans |
|
|
International
Pension Plans |
|
|
Postretirement
Healthcare Plans |
|
2020 |
|
$ |
1,027 |
|
|
$ |
45 |
|
|
$ |
87 |
|
2021 |
|
|
971 |
|
|
|
46 |
|
|
|
98 |
|
2022 |
|
|
1,051 |
|
|
|
47 |
|
|
|
109 |
|
2023 |
|
|
1,138 |
|
|
|
55 |
|
|
|
117 |
|
2024 |
|
|
1,230 |
|
|
|
61 |
|
|
|
121 |
|
2025-2029 |
|
|
7,515 |
|
|
|
396 |
|
|
|
473 |
|
|