v3.7.0.1
Post-Employment Benefits
 3 Months Ended
Mar. 31, 2017
Post-Employment Benefits  
Post-Employment Benefits

Note 13 — Post-Employment Benefits

 

Retirement plans consist of defined benefit, defined contribution, and medical and dental plans.  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

 

(in millions)

 

March 31,
2017

 

March 31,
2016

 

March 31,
2017

 

March 31,
2016

 

 

 

 

 

 

 

 

 

 

 

Service cost - benefits earned during the period

 

$
72

 

$
67

 

$
7

 

$
7

 

Interest cost on projected benefit obligations

 
72

 
73

 
11

 
12

 

Expected return on plan assets

 
(152

)
(141

)
(8

)
(9

)

Net amortization of:

 

 

 

 

 

 

 

 

 

Actuarial loss, net

 
42

 
32

 
6

 
6

 

Prior service cost (credit)

 

—

 

—

 
(11

)
(11

)

 

 

 

 

 

 

 

 

 

 

Net cost — continuing operations

 

$
34

 

$
31

 

$
5

 

$
5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In the first quarter of 2017, Abbott recognized a $10 million curtailment gain related to the disposition of AMO.

 

Abbott funds its domestic defined benefit plans according to IRS funding limitations.  International pension plans are funded according to similar regulations.  In the first quarters of 2017 and 2016, $283 million and $491 million, respectively, were contributed to defined benefit plans and $11 million and $9 million, respectively, were contributed to the post-employment medical and dental benefit plans.