We offer defined benefit pension plans, defined contribution pension plans, and various postretirement benefit plans. The following tables provide the retirement-related benefit plans’ impact on income before income taxes for the three- and nine-month periods ended February 28, 2023 and 2022:


	U.S. Plans						Non-U.S. Plans
	Three Months Ended						Three Months Ended
(In thousands)	February 28,			February 28,			February 28,			February 28,
Pension Benefits	2023			2022			2023			2022
Service cost	$	10,890		$	11,914		$	951		$	1,348
Interest cost		7,173			3,842			1,728			1,282
Expected return on plan assets		(9,536	)		(10,386	)		(1,727	)		(2,073	)
Amortization of:
Prior service cost (credit)		-			1			(27	)		(38	)
Net actuarial losses recognized		4,487			4,225			125			114
Net Periodic Benefit Cost	$	13,014		$	9,596		$	1,050		$	633


	U.S. Plans						Non-U.S. Plans
	Three Months Ended						Three Months Ended
(In thousands)	February 28,			February 28,			February 28,			February 28,
Postretirement Benefits	2023			2022			2023			2022
Service cost	$	-		$	-		$	287		$	432
Interest cost		21			10			368			299
Amortization of:
Prior service (credit)		(30	)		(40	)		-			-
Net actuarial losses (gains) recognized		11			15			(14	)		32
Net Periodic Benefit Cost (Credit)	$	2		$	(15	)	$	641		$	763


	U.S. Plans						Non-U.S. Plans
	Nine Months Ended						Nine Months Ended
(In thousands)	February 28,			February 28,			February 28,			February 28,
Pension Benefits	2023			2022			2023			2022
Service cost	$	32,670		$	35,742		$	2,853		$	4,044
Interest cost		21,519			11,526			5,184			3,846
Expected return on plan assets		(28,608	)		(31,158	)		(5,181	)		(6,219	)
Amortization of:
Prior service cost (credit)		-			3			(81	)		(114	)
Net actuarial losses recognized		13,461			12,675			375			342
Net Periodic Benefit Cost	$	39,042		$	28,788		$	3,150		$	1,899


	U.S. Plans						Non-U.S. Plans
	Nine Months Ended						Nine Months Ended
(In thousands)	February 28,			February 28,			February 28,			February 28,
Postretirement Benefits	2023			2022			2023			2022
Service cost	$	-		$	-		$	861		$	1,296
Interest cost		63			30			1,104			897
Amortization of:
Prior service (credit)		(90	)		(120	)		-			-
Net actuarial losses (gains) recognized		33			45			(42	)		96
Net Periodic Benefit Cost (Credit)	$	6		$	(45	)	$	1,923		$	2,289

Due to a reduction in return on plan assets and higher interest costs which are only partially offset by a reduction in service cost due to higher discount rates, net periodic pension cost for fiscal 2023 is higher than our fiscal 2022 expense. We expect that pension expense will fluctuate on a year-to-year basis, depending upon the investment performance of plan assets and potential changes in interest rates, and these fluctuations may have a material impact on our consolidated financial results in the future. We previously disclosed in our financial statements for the fiscal year ended May 31, 2022 that we are required and expect to contribute approximately $1.3 million to our retirement plans in the U.S. and approximately $4.9 million to plans outside the U.S. during the current fiscal year and that we will evaluate whether to make additional contributions throughout fiscal 2023. As a result of our evaluation, we elected to contribute $62.3 million to the main pension plan in the U.S. during the current quarter, which will result in total expected U.S. contributions of $63.6 million during fiscal year 2023.