Post-Employment Benefits

3 Months Ended

Mar. 31, 2020

Post-Employment Benefits

Post-Employment Benefits

Note 12 — Post-Employment Benefits

Retirement plans consist of defined benefit, defined contribution, and medical and dental plans. Net periodic benefit costs, other than service costs, are recognized in the Other (income) expense, net line of the Condensed Consolidated Statement of Earnings. Net cost recognized in continuing operations for the three months ended March 31 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
	March 31,		March 31,		March 31,		March 31,
(in millions)	2020		2019		2020		2019
Service cost - benefits earned during the period	$	85	$	64	$	12	$	6
Interest cost on projected benefit obligations		75		84		12		13
Expected return on plan assets		(192)		(178)		(7)		(7)
Net amortization of:
Actuarial loss, net		63		33		8		6
Prior service cost (credit)		—		—		(7)		(8)
Net cost - continuing operations	$	31	$	3	$	18	$	10

Abbott funds its domestic defined benefit plans according to IRS funding limitations.  International pension plans are funded according to similar regulations.  In the first three months of 2020 and 2019, $320 million and $313 million, respectively, were contributed to defined benefit plans and $11 million was contributed to the post-employment medical and dental benefit plans in each year.