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Post-Employment Benefits
 6 Months Ended
Jun. 30, 2015
Post-Employment Benefits  
Post-Employment Benefits

Note 11 — Post-Employment Benefits

 

Retirement plans consist of defined benefit, defined contribution, and medical and dental plans.  Net cost recognized in continuing operations for the three months and six months ended June 30 for Abbott’s major defined benefit plans and post-employment medical and dental benefit plans is as follows:

 

 

 

Defined Benefit Plans

 

Medical and Dental Plans

 

 

 

Three Months

 

Six Months

 

Three Months

 

Six Months

 

 

 

Ended June 30

 

Ended June 30

 

Ended June 30

 

Ended June 30

 

( in millions)

 

2015

 

2014

 

2015

 

2014

 

2015

 

2014

 

2015

 

2014

 

Service cost — benefits earned during the period

 

$
68

 

$
62

 

$
150

 

$
128

 

$
6

 

$
9

 

$
15

 

$
18

 

Interest cost on projected benefit obligations

 
77

 
75

 
156

 
152

 
11

 
16

 
25

 
32

 

Expected return on plan assets

 
(128

)
(113

)
(257

)
(226

)
(10

)
(9

)
(19

)
(19

)

Net amortization of:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Actuarial loss, net

 
42

 
24

 
89

 
49

 
1

 
4

 
10

 
9

 

Prior service cost (credit)

 

—

 

—

 

—

 
1

 
(12

)
(9

)
(24

)
(18

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Cost

 
59

 
48

 
138

 
104

 
(4

)
11

 
7

 
22

 

Less: Discontinued operations

 

—

 
4

 
1

 
8

 

—

 

—

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net cost - continuing operations

 

$
59

 

$
44

 

$
137

 

$
96

 

$
(4

)

$
11

 

$
7

 

$
22

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Abbott funds its domestic defined benefit plans according to IRS funding limitations.  International pension plans are funded according to similar regulations.  In the first six months of 2015 and 2014, $547 million and $330 million, respectively, were contributed to defined benefit plans and $24 million and $40 million were contributed to the post-employment medical and dental benefit plans in the first six months of 2015 and 2014, respectively.