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 six-month periods ended November 30, 2023 and 2022:


	U.S. Plans						Non-U.S. Plans
	Three Months Ended						Three Months Ended
(In thousands)	November 30,			November 30,			November 30,			November 30,
Pension Benefits	2023			2022			2023			2022
Service cost	$	10,913		$	10,890		$	887		$	951
Interest cost		8,992			7,173			1,935			1,728
Expected return on plan assets		(10,518	)		(9,536	)		(2,400	)		(1,727	)
Amortization of:
Prior service cost (credit)		1			-			(31	)		(27	)
Net actuarial losses recognized		4,205			4,487			209			125
Net Periodic Benefit Cost	$	13,593		$	13,014		$	600		$	1,050


	U.S. Plans						Non-U.S. Plans
	Three Months Ended						Three Months Ended
(In thousands)	November 30,			November 30,			November 30,			November 30,
Postretirement Benefits	2023			2022			2023			2022
Service cost	$	-		$	-		$	569		$	287
Interest cost		22			21			390			368
Amortization of:
Prior service (credit)		-			(30	)		-			-
Net actuarial (gains) losses recognized		(4	)		11			(12	)		(14	)
Net Periodic Benefit Cost	$	18		$	2		$	947		$	641


	U.S. Plans						Non-U.S. Plans
	Six Months Ended						Six Months Ended
(In thousands)	November 30,			November 30,			November 30,			November 30,
Pension Benefits	2023			2022			2023			2022
Service cost	$	21,826		$	21,780		$	1,774		$	1,902
Interest cost		17,984			14,346			3,870			3,456
Expected return on plan assets		(21,036	)		(19,072	)		(4,800	)		(3,454	)
Amortization of:
Prior service cost (credit)		2			-			(62	)		(54	)
Net actuarial losses recognized		8,410			8,974			418			250
Net Periodic Benefit Cost	$	27,186		$	26,028		$	1,200		$	2,100


	U.S. Plans						Non-U.S. Plans
	Six Months Ended						Six Months Ended
(In thousands)	November 30,			November 30,			November 30,			November 30,
Postretirement Benefits	2023			2022			2023			2022
Service cost	$	-		$	-		$	1,138		$	574
Interest cost		44			42			780			736
Amortization of:
Prior service (credit)		-			(60	)		-			-
Net actuarial (gains) losses recognized		(8	)		22			(24	)		(28	)
Net Periodic Benefit Cost	$	36		$	4		$	1,894		$	1,282

Net periodic pension cost for fiscal 2024 is similar to our fiscal 2023 cost due to higher interest costs, which are partially offset by an increase in expected return on plan assets. 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, 2023 that we are required and expect to contribute approximately $0.7 million to our retirement plans in the U.S. and approximately $5.7 million to plans outside the U.S. during the current fiscal year. Throughout fiscal 2024, we will evaluate whether to make additional contributions.