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Retirement Plans
 9 Months Ended
Feb. 28, 2025
Retirement Benefits [Abstract]  
Retirement Plans

NOTE 7: 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 February 28, 2025 and February 29, 2024 were as follows (in millions):

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Defined benefit pension plans

 

$

69

 

 

$

92

 

 

$

209

 

 

$

274

 

Defined contribution plans

 

 

278

 

 

 

240

 

 

 

853

 

 

 

722

 

Postretirement healthcare plans

 

 

22

 

 

 

20

 

 

 

65

 

 

 

64

 

 

 

$

369

 

 

$

352

 

 

$

1,127

 

 

$

1,060

 

 

Net periodic benefit cost of the pension and postretirement healthcare plans for the periods ended February 28, 2025 and February 29, 2024 included the following components (in millions):

 

 

Three Months Ended

 

 

 

U.S. Pension Plans

 

 

International Pension Plans

 

 

Postretirement Healthcare Plans

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Service cost

 

$

125

 

 

$

136

 

 

$

9

 

 

$

9

 

 

$

6

 

 

$

7

 

Other retirement plans expense (income):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest cost

 

 

361

 

 

 

341

 

 

 

10

 

 

 

10

 

 

 

17

 

 

 

15

 

Expected return on plan assets

 

 

(430

)

 

 

(400

)

 

 

(4

)

 

 

(2

)

 

 

—

 

 

 

—

 

Amortization of prior service credit and other

 

 

(2

)

 

 

(2

)

 

 

—

 

 

 

—

 

 

 

(1

)

 

 

(2

)

 

 

 

(71

)

 

 

(61

)

 

 

6

 

 

 

8

 

 

 

16

 

 

 

13

 

Net periodic benefit cost

 

$

54

 

 

$

75

 

 

$

15

 

 

$

17

 

 

$

22

 

 

$

20

 

 

 

 

Nine Months Ended

 

 

 

U.S. Pension Plans

 

 

International Pension Plans

 

 

Postretirement Healthcare Plans

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Service cost

 

$

374

 

 

$

408

 

 

$

29

 

 

$

29

 

 

$

19

 

 

$

21

 

Other retirement plans expense (income):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest cost

 

 

1,085

 

 

 

1,022

 

 

 

32

 

 

 

32

 

 

 

49

 

 

 

45

 

Expected return on plan assets

 

 

(1,290

)

 

 

(1,199

)

 

 

(16

)

 

 

(13

)

 

 

—

 

 

 

—

 

Amortization of prior service credit and other

 

 

(6

)

 

 

(5

)

 

 

1

 

 

 

—

 

 

 

(3

)

 

 

(2

)

 

 

 

(211

)

 

 

(182

)

 

 

17

 

 

 

19

 

 

 

46

 

 

 

43

 

Net periodic benefit cost

 

$

163

 

 

$

226

 

 

$

46

 

 

$

48

 

 

$

65

 

 

$

64

 

For 2025, no pension contributions are required for our tax-qualified 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 $800 million to our U.S. Pension Plan during the nine-month period ended February 28, 2025.