| Retirement-Related Benefit Plans' Impact on Income Before Income Taxes |
The following tables provide the retirement-related benefit plans’ impact on income before income taxes for the three- and nine-month periods ended February 29, 2024 and February 28, 2023:
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U.S. Plans |
|
Non-U.S. Plans |
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|
Three Months Ended |
|
Three Months Ended |
|
(In thousands) |
February 29, |
|
February 28, |
|
February 29, |
|
February 28, |
|
Pension Benefits |
2024 |
|
2023 |
|
2024 |
|
2023 |
|
Service cost |
$ |
10,913 |
|
$ |
10,890 |
|
$ |
887 |
|
$ |
951 |
|
Interest cost |
|
8,992 |
|
|
7,173 |
|
|
1,935 |
|
|
1,728 |
|
Expected return on plan assets |
|
(10,518 |
) |
|
(9,536 |
) |
|
(2,400 |
) |
|
(1,727 |
) |
Amortization of: |
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|
|
|
|
|
|
|
Prior service cost (credit) |
|
1 |
|
|
- |
|
|
(31 |
) |
|
(27 |
) |
Net actuarial losses recognized |
|
4,205 |
|
|
4,487 |
|
|
209 |
|
|
125 |
|
Net Periodic Benefit Cost |
$ |
13,593 |
|
$ |
13,014 |
|
$ |
600 |
|
$ |
1,050 |
|
|
|
|
|
|
|
|
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|
|
|
|
|
U.S. Plans |
|
Non-U.S. Plans |
|
|
Three Months Ended |
|
Three Months Ended |
|
(In thousands) |
February 29, |
|
February 28, |
|
February 29, |
|
February 28, |
|
Postretirement Benefits |
2024 |
|
2023 |
|
2024 |
|
2023 |
|
Service cost |
$ |
- |
|
$ |
- |
|
$ |
569 |
|
$ |
287 |
|
Interest cost |
|
22 |
|
|
21 |
|
|
390 |
|
|
368 |
|
Amortization of: |
|
|
|
|
|
|
|
|
Prior service (credit) |
|
- |
|
|
(30 |
) |
|
- |
|
|
- |
|
Net actuarial (gains) losses recognized |
|
(4 |
) |
|
11 |
|
|
(12 |
) |
|
(14 |
) |
Net Periodic Benefit Cost |
$ |
18 |
|
$ |
2 |
|
$ |
947 |
|
$ |
641 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Plans |
|
Non-U.S. Plans |
|
|
Nine Months Ended |
|
Nine Months Ended |
|
(In thousands) |
February 29, |
|
February 28, |
|
February 29, |
|
February 28, |
|
Pension Benefits |
2024 |
|
2023 |
|
2024 |
|
2023 |
|
Service cost |
$ |
32,739 |
|
$ |
32,670 |
|
$ |
2,661 |
|
$ |
2,853 |
|
Interest cost |
|
26,976 |
|
|
21,519 |
|
|
5,805 |
|
|
5,184 |
|
Expected return on plan assets |
|
(31,554 |
) |
|
(28,608 |
) |
|
(7,200 |
) |
|
(5,181 |
) |
Amortization of: |
|
|
|
|
|
|
|
|
Prior service cost (credit) |
|
3 |
|
|
- |
|
|
(93 |
) |
|
(81 |
) |
Net actuarial losses recognized |
|
12,615 |
|
|
13,461 |
|
|
627 |
|
|
375 |
|
Net Periodic Benefit Cost |
$ |
40,779 |
|
$ |
39,042 |
|
$ |
1,800 |
|
$ |
3,150 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Plans |
|
Non-U.S. Plans |
|
|
Nine Months Ended |
|
Nine Months Ended |
|
(In thousands) |
February 29, |
|
February 28, |
|
February 29, |
|
February 28, |
|
Postretirement Benefits |
2024 |
|
2023 |
|
2024 |
|
2023 |
|
Service cost |
$ |
- |
|
$ |
- |
|
$ |
1,707 |
|
$ |
861 |
|
Interest cost |
|
66 |
|
|
63 |
|
|
1,170 |
|
|
1,104 |
|
Amortization of: |
|
|
|
|
|
|
|
|
Prior service (credit) |
|
- |
|
|
(90 |
) |
|
- |
|
|
- |
|
Net actuarial (gains) losses recognized |
|
(12 |
) |
|
33 |
|
|
(36 |
) |
|
(42 |
) |
Net Periodic Benefit Cost |
$ |
54 |
|
$ |
6 |
|
$ |
2,841 |
|
$ |
1,923 |
|
|