Retirement Plans

6 Months Ended

Nov. 30, 2024

Retirement Benefits [Abstract]

Retirement Plans

NOTE 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
	2024		2023		2024		2023
Defined benefit pension plans	$	70	$	91	$	140	$	182
Defined contribution plans		288		242		575		482
Postretirement healthcare plans		21		21		43		44
	$	379	$	354	$	758	$	708

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
	2024			2023			2024			2023			2024			2023
Service cost	$	124		$	136		$	11		$	10		$	6		$	7
Other retirement plans expense (income):
Interest cost		363			340			10			12			16			14
Expected return on plan assets		(430	)		(399	)		(7	)		(7	)		—			—
Amortization of prior service credit and other		(2	)		(1	)		1			—			(1	)		—
		(69	)		(60	)		4			5			15			14
Net periodic benefit cost	$	55		$	76		$	15		$	15		$	21		$	21

	Six Months Ended
	U.S. Pension Plans						International Pension Plans						Postretirement Healthcare Plans
	2024			2023			2024			2023			2024			2023
Service cost	$	249		$	272		$	20		$	20		$	13		$	14
Other retirement plans expense (income):
Interest cost		724			681			22			22			32			30
Expected return on plan assets		(860	)		(799	)		(12	)		(11	)		—			—
Amortization of prior service credit and other		(4	)		(3	)		1			—			(2	)		—
		(140	)		(121	)		11			11			30			30
Net periodic benefit cost	$	109		$	151		$	31		$	31		$	43		$	44

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 $600 million to our U.S. Pension Plan during the six-month period ended November 30, 2024.