Retirement Plans

9 Months Ended

Feb. 28, 2017

Compensation And Retirement Disclosure [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 February 28, 2017 and February 29, 2016 were as follows (in millions):

	Three Months Ended				Nine Months Ended
	2017		2016		2017		2016
Defined benefit pension plans	$	57	$	53	$	173	$	160
Defined contribution plans		117		104		348		304
Postretirement healthcare plans		19		20		57		61
	$	193	$	177	$	578	$	525

Net periodic benefit cost of the pension and postretirement healthcare plans for the periods ended February 28, 2017 and February 29, 2016 included the following components (in millions):

	Three Months Ended						Nine Months Ended
	2017			2016			2017			2016
Pension Plans
Service cost	$	180		$	166		$	540		$	497
Interest cost		293			295			879			885
Expected return on plan assets		(384	)		(377	)		(1,156	)		(1,131	)
Amortization of prior service credit and other		(32	)		(31	)		(90	)		(91	)
	$	57		$	53		$	173		$	160

	Three Months Ended				Nine Months Ended
	2017		2016		2017		2016
Postretirement Healthcare Plans
Service cost	$	9	$	10	$	27	$	30
Interest cost		10		10		30		31
	$	19	$	20	$	57	$	61

Contributions to our U.S. Pension Plans for the nine-month periods ended February 28, 2017 and February 29, 2016 were as follows (in millions):

	2017		2016
Required	$	444	$	8
Voluntary		1,306		487
	$	1,750	$	495

In March 2017, we made $250 million in contributions to our U.S. Pension Plans, of which $15 million was required. Our U.S. Pension Plans have ample funds to meet expected benefit payments. We anticipate our U.S. Pension Plans will make payments in the fourth quarter of 2017 aggregating in excess of $1 billion to former employees who elected to receive their benefits early under a voluntary program offered to qualifying participants during the third quarter of 2017.