Post-Employment Benefits

6 Months Ended

Jun. 30, 2023

Postemployment Benefits [Abstract]

Post-Employment Benefits

Note 13 — 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 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 Ended June 30				Six Months Ended June 30				Three Months Ended June 30				Six Months Ended June 30
(in millions)	2023		2022		2023		2022		2023		2022		2023		2022
Service cost - benefits earned during the period	$	58	$	94	$	118	$	190	$	10	$	12	$	19	$	25
Interest cost on projected benefit obligations	114		75		228		151		16		8		30		18
Expected return on plan assets	(243)		(234)		(485)		(470)		(6)		(8)		(12)		(15)
Curtailment gain	(14)		—		(14)		—		—		—		—		—
Net amortization of:
Actuarial loss, net	3		57		6		116		(1)		1		(1)		6
Prior service cost (credit)	—		1		—		1		(4)		(6)		(7)		(12)
Net cost (credit)	$	(82)	$	(7)	$	(147)	$	(12)	$	15	$	7	$	29	$	22

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 six months of 2023 and 2022, $290 million and $348 million, respectively, were contributed to defined benefit plans. In the first six months of 2023 and 2022, $28 million was contributed, in each year, to the post-employment medical and dental plans.