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RETIREMENT AND POSTEMPLOYMENT BENEFITS
 6 Months Ended
Nov. 27, 2016
Retirement and Postemployment Benefits [Abstract]  
Retirement and Postemployment Benefits

(14) Retirement and Postemployment Benefits

Beginning in fiscal 2017, we changed the method used to estimate the service and interest cost components of the net periodic benefit expense for our U.S. and most of our international defined benefit pension, other postretirement benefit and postemployment benefit plans. We adopted a full yield curve approach to estimate service cost and interest cost by applying the specific spot rates along the yield curve used to determine the benefit obligation to the relevant projected cash flows. This method provides a more precise measurement of service and interest costs by correlating the timing of the plans’ liability cash flows to the corresponding rate on the yield curve. Previously, we estimated service cost and interest cost using a single weighted-average discount rate derived from the yield curve used to measure the benefit obligation at the beginning of the period. This change does not affect the measurement of our benefit obligations related to these plans. We have accounted for this change prospectively as a change in accounting estimate beginning in the first quarter of fiscal 2017. The change in methodology resulted in a decrease in service and interest cost of approximately $17 million in the three months ended November 27, 2016 and approximately $34 million in the six-month period ended November 27, 2016 compared to what our costs would have been under the previous method. We expect this change to result in a reduction in our service and interest cost of approximately $68 million for fiscal 2017 compared to our previous methodology. The fiscal 2017 reduction in our net periodic benefit expense as a result of this change in methodology is partially offset by a reduction in our weighted-average expected rate of return on plan assets for our principal defined benefit pension and other postretirement plans in the United States to 8.25 percent as a result of asset changes that decreased investment risk in the portfolio.

Components of net periodic benefit expense are as follows:

Defined Benefit Pension PlansOther Postretirement Benefit PlansPostemployment Benefit Plans
Quarter EndedQuarter EndedQuarter Ended
In MillionsNov. 27, 2016Nov. 29, 2015Nov. 27, 2016Nov. 29, 2015Nov. 27, 2016Nov. 29, 2015
Service cost$30.0$33.7$3.1$4.7$2.2$1.9
Interest cost54.167.07.911.00.71.0
Expected return on plan assets(121.7)(124.3)(12.1)(11.5)--
Amortization of losses47.647.30.71.60.50.2
Amortization of prior service costs (credits)0.61.2(1.3)(1.3)0.10.6
Other adjustments2.15.01.32.43.43.3
Settlement or curtailment losses 2.911.30.70.2--
Net expense$15.6$41.2$0.3$7.1$6.9$7.0
Defined Benefit Pension PlansOther Postretirement Benefit PlansPostemployment Benefit Plans
Six-MonthPeriod EndedSix-MonthPeriod EndedSix-MonthPeriod Ended
In MillionsNov. 27, 2016Nov. 29, 2015Nov. 27, 2016Nov. 29, 2015Nov. 27, 2016Nov. 29, 2015
Service cost$60.0$67.4$6.2$9.5$4.4$3.8
Interest cost108.3134.016.022.01.42.0
Expected return on plan assets(243.5)(248.6)(24.2)(23.1)--
Amortization of losses95.094.71.33.30.90.4
Amortization of prior service costs (credits)1.22.4(2.6)(2.7)0.31.2
Other adjustments2.15.01.32.46.86.5
Settlement or curtailment losses4.411.30.70.2--
Net expense (income)$27.5$66.2$(1.3)$11.6$13.8$13.9