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Retirement Plans
 6 Months Ended
Nov. 30, 2011
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 periods ended November 30 were as follows (in millions):

  Three Months Ended Six Months Ended
  2011 2010 2011 2010
U.S. domestic and international pension plans$ 132 $ 134 $ 264 $ 275
U.S. domestic and international defined contribution           
 plans  81   51   167   105
Postretirement healthcare plans  17   15   35   30
  $ 230 $ 200 $ 466 $ 410

The three- and six-month periods ended November 30, 2011 reflect the full restoration on January 1, 2011 of company-matching contributions for our 401(k) plans.

 

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 Plans2011 2010 2011 2010
 Service cost$ 149 $ 130 $ 297 $ 260
 Interest cost  244   225   488   449
 Expected return on plan assets  (309)   (265)   (618)   (530)
 Recognized actuarial losses and other  48   44   97   96
  $ 132 $ 134 $ 264 $ 275
             
             
  Three Months Ended Six Months Ended
Postretirement Healthcare Plans2011 2010 2011 2010
 Service cost$ 9 $ 7 $ 18 $ 15
 Interest cost  9   9   18   17
 Recognized actuarial gains and other  (1)   (1)   (1)   (2)
  $ 17 $ 15 $ 35 $ 30

Required contributions to our tax-qualified U.S. domestic pension plans (“U.S. Pension Plans”) for the six-month periods ended November 30 were $226 million in 2011 and $158 million in 2010.

Our U.S. Pension Plans have ample funds to meet expected benefit payments. For the remainder of 2012, we anticipate making contributions to our U.S. Pension Plans of approximately $300 million ($127 million of which was paid in December 2011).