Post-Employment Benefits

3 Months Ended

Mar. 31, 2022

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 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 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)	2022		2021		2022		2021
Service cost — benefits earned during the period	$	96	$	100	$	13	$	14
Interest cost on projected benefit obligations		76		62		10		8
Expected return on plan assets		(236)		(211)		(7)		(7)
Net amortization of:
Actuarial loss, net		59		81		5		7
Prior service cost (credit)		—		—		(6)		(7)
Net cost (credit)	$	(5)	$	32	$	15	$	15

Abbott funds its domestic defined benefit plans according to Internal Revenue Service funding limitations. International pension plans are funded according to similar regulations. In the first three months of 2022 and 2021, $334 million and $16 million, respectively, were contributed to defined benefit plans. Contributions made to post-employment medical and dental plans in the first three months of 2022 were $28 million. No contributions were made to the post-employment medical and dental plans in the first three months of 2021.