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PENSION PLANS
3 Months Ended
Aug. 31, 2012
PENSION PLANS

NOTE 13 — PENSION PLANS

We offer defined benefit pension plans, defined contribution pension plans, as well as several unfunded health care benefit plans primarily for certain of our retired employees. The following tables provide the retirement-related benefit plans’ impact on income before income taxes for the quarters month periods ended August 31, 2012 and 2011:

 

     U.S. Plans     Non-U.S. Plans  
     Quarter Ended
August 31,
    Quarter Ended
August 31,
 

Pension Benefits

   2012     2011     2012     2011  
     (In thousands)  

Service cost

   $ 6,488     $ 4,977     $ 1,050     $ 965  

Interest cost

     4,060       3,827       1,769       2,040  

Expected return on plan assets

     (4,358     (4,354     (1,846     (2,036

Amortization of:

        

Prior service cost

     87       88       2       3  

Net actuarial losses recognized

     4,222       2,127       692       560  
  

 

 

   

 

 

   

 

 

   

 

 

 

Net Periodic Benefit Cost

   $ 10,499     $ 6,665     $ 1,667     $ 1,532  
  

 

 

   

 

 

   

 

 

   

 

 

 

 

     U.S. Plans     Non-U.S. Plans  
     Quarter Ended
August 31,
    Quarter Ended
August 31,
 

Postretirement Benefits

      2012           2011           2012            2011     
     (In thousands)  

Service cost

   $ —        $ —        $ 288      $ 192  

Interest cost

     88       104       289        250  

Amortization of:

         

Prior service cost

     (22     (22     

Net actuarial (gains) losses recognized

     4       (14     114        18  
  

 

 

   

 

 

   

 

 

    

 

 

 

Net Periodic Benefit Cost

   $ 70     $ 68     $ 691      $ 460  
  

 

 

   

 

 

   

 

 

    

 

 

 

We previously disclosed in our financial statements for the fiscal year ended May 31, 2012 that we expected to contribute approximately $29.9 million to our retirement plans in the U.S. and approximately $8.3 million to plans outside the U.S. during the current fiscal year. As of August 31, 2012, we do not anticipate any changes to those planned contribution levels.