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Retirement Plans | 6 Months Ended
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Nov. 30, 2023
Retirement Benefits [Abstract] |
Retirement Plans | (6) 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 |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Defined benefit pension plans, net |  | $ | 91 |  |  | $ | 58 |  |  | $ | 182 |  |  | $ | 117 |
Defined contribution plans |  |  | 242 |  |  |  | 228 |  |  |  | 482 |  |  |  | 472 |
Postretirement healthcare plans |  |  | 21 |  |  |  | 23 |  |  |  | 44 |  |  |  | 46 |
|  | $ | 354 |  |  | $ | 309 |  |  | $ | 708 |  |  | $ | 635 |
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 |
|  | U.S. Pension Plans |  |  | International Pension Plans |  |  | Postretirement Healthcare Plans |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Service cost |  | $ | 136 |  |  | $ | 163 |  |  | $ | 10 |  |  | $ | 10 |  |  | $ | 7 |  |  | $ | 9 |
Other retirement plans expense (income): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest cost |  |  | 340 |  |  |  | 305 |  |  |  | 12 |  |  |  | 8 |  |  |  | 14 |  |  |  | 14 |
Expected return on plan assets |  |  | (399 | ) |  |  | (422 | ) |  |  | (7 | ) |  |  | (4 | ) |  |  | — |  |  |  | — |
Amortization of prior service credit and other |  |  | (1 | ) |  |  | (2 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  |  | (60 | ) |  |  | (119 | ) |  |  | 5 |  |  |  | 4 |  |  |  | 14 |  |  |  | 14 |
|  | $ | 76 |  |  | $ | 44 |  |  | $ | 15 |  |  | $ | 14 |  |  | $ | 21 |  |  | $ | 23 |
|  | Six Months Ended |
|  | U.S. Pension Plans |  |  | International Pension Plans |  |  | Postretirement Healthcare Plans |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Service cost |  | $ | 272 |  |  | $ | 326 |  |  | $ | 20 |  |  | $ | 21 |  |  | $ | 14 |  |  | $ | 18 |
Other retirement plans expense (income): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest cost |  |  | 681 |  |  |  | 609 |  |  |  | 22 |  |  |  | 17 |  |  |  | 30 |  |  |  | 28 |
Expected return on plan assets |  |  | (799 | ) |  |  | (844 | ) |  |  | (11 | ) |  |  | (8 | ) |  |  | — |  |  |  | — |
Amortization of prior service credit and other |  |  | (3 | ) |  |  | (4 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  |  | (121 | ) |  |  | (239 | ) |  |  | 11 |  |  |  | 9 |  |  |  | 30 |  |  |  | 28 |
|  | $ | 151 |  |  | $ | 87 |  |  | $ | 31 |  |  | $ | 30 |  |  | $ | 44 |  |  | $ | 46 |
For 2024, no pension contributions are required for our tax-q ualified U.S. domestic pension plan (“U.S. Pension Plan”) as it is fully funded under the Employee Retirement Income Security Act. We made voluntary contributions of $400 million to our U.S. Pension Plan during the first half of 2024 and anticipate making $400 million of additional voluntary contributions during the remainder of 2024.

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