Post-Employment Benefits

3 Months Ended

Mar. 31, 2024

Postemployment Benefits [Abstract]

Post-Employment Benefits

Note 13 — Post-Employment Benefits

Retirement plans consist of defined benefit, defined contribution, and medical and dental plans. Net periodic benefit costs, other than service costs, are recognized in the Other (income) expense, net line of the Condensed Consolidated Statement of Earnings. Net cost recognized for the three months ended March 31 for Abbott’s major defined benefit plans and post-employment medical and dental benefit plans is as follows:

	Defined Benefit Plans				Medical and Dental Plans
	Three Months Ended March 31				Three Months Ended March 31
(in millions)	2024		2023		2024		2023
Service cost - benefits earned during the period	$	61	$	60	$	10	$	9
Interest cost on projected benefit obligations	118		114		15		14
Expected return on plan assets	(262)		(242)		(6)		(6)
Net amortization of:
Actuarial loss, net	6		3		—		—
Prior service cost (credit)	—		—		(3)		(3)
Net cost (credit)	$	(77)	$	(65)	$	16	$	14

Abbott funds its domestic defined benefit plans according to Internal Revenue Service funding limitations. International pension plans are funded according to similar regulations. In the first three months of 2024 and 2023, $280 million and $282 million, respectively, were contributed to defined benefit plans. In the first three months of 2024 and 2023, $28 million was contributed in each year to the post-employment medical and dental plans.