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

(3) Retirement Plans

 

We sponsor or participate in programs that provide retirement benefits to most of our employees. These programs include defined benefit pension plans, defined contribution plans and postretirement healthcare plans. A majority of our employees are covered by the FedEx Corporation Employees' Pension Plan, a defined benefit pension plan sponsored by FedEx. Defined contribution plans are in place covering a majority of U.S. employees and certain international employees. We also sponsor or participate in nonqualified benefit plans covering certain of our U.S. employee groups and other pension plans covering certain of our international employees. Prior year amounts have been recast to conform to pension accounting changes. For more information, refer to the financial statements of FedEx included in its Form 10-Q for the quarter ended August 31, 2015 and in our Annual Report.

Our retirement plans costs for the three-month periods ended August 31 were as follows (in millions):
           
      2015 2014
Pension plans sponsored by FedEx    $ 16 $ 19
Defined benefit pension plans      11   11
Defined contribution plans    64   61
Postretirement healthcare plans    16   16
           
      $ 107 $ 107

The components of the net periodic benefit cost of the pension and postretirement healthcare plans currently sponsored by us were individually immaterial for all periods presented. No material contributions were made during the first quarter of 2016 or 2015 to pension plans sponsored by us, and we do not expect to make material contributions in 2016.