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STOCK-BASED INCENTIVE PLANS (Tables)
 12 Months Ended
Dec. 31, 2017
STOCK-BASED INCENTIVE PLANS  
Summary of total share-based compensation expense recognized in income of continuing and discontinued operations

 

For the years ended December 31, (in millions)

 

2017

 

2016

 

2015

 

Compensation expense

 

$
150

 

$
121

 

$
49

 

Income tax benefit recognized in the income statement

 
32

 
43

 
17

 

 

Summary of changes in Occidental's unvested cash- and stock- settled RSUs

 

 

 

Cash-Settled

 

Stock-Settled

 

 

 

RSUs
(000’s)

 

Weighted-Average
Grant-Date
Fair Value

 

RSUs
(000’s)

 

Weighted-Average
Grant-Date
Fair Value

 

Unvested at January 1

 
601

 

$
78.70

 
3,500

 

$
77.07

 

Granted

 
62

 
66.62

 
1,683

 
67.21

 

Vested

 
(373)

 
81.94

 
(1,064)

 
76.51

 

Forfeitures

 
(21)

 
76.72

 
(168)

 
71.86

 

 

 

 

 

 

 

 

 

 

 

Unvested at December 31

 
269

 

$
71.58

 
3,951

 

$
73.24

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Grant-date assumptions used in the Monte Carlo simulation models for the estimated payout level of TSRIs

 

 

 

TSRIs

 

Year Granted

 

2017

 

2016

 

2015

 

Assumptions used:

 

 

 

 

 

 

 

Risk-free interest rate

 
1.5%

 
0.8%

 
0.9%

 

Dividend yield

 
4.5%

 
3.9%

 
4.1%

 

Volatility factor

 
25%

 
24%

 
37%

 

Expected life (years)

 
3

 
3

 
3

 

Grant-date fair value of underlying Occidental common stock

 

 $
67.21

 

 $
76.83

 

 $
72.54

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of Option and SAR transactions

 

 

 

SARs & Options
(000’s)

 

Weighted-
Average Exercise
Price

 

Weighted-
Average
Remaining
Contractual Term
(yrs)

 

Aggregate
Intrinsic Value
(000’s)

 

Beginning balance, January 1

 
571

 

$
79.98

 

 

 

 

 

Forfeited

 
(22

)
79.98

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance, December 31

 
549

 
79.98

 
4.1

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at December 31

 
397

 
79.98

 
4.1

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

TSRIs  
STOCK-BASED INCENTIVE PLANS  
Summary of the changes of awards

 

 

 

TSRIs

 

 

 

Awards
(000’s)

 

Weighted-Average
Grant-Date Fair
Value of Occidental Stock

 

Unvested at January 1

 
707

 

$
78.72

 

Granted

 
601

 
67.21

 

Vested (a)

 
(98)

 
96.75

 

Forfeitures

 
(58)

 
70.75

 

 

 

 

 

 

 

Unvested at December 31

 
1,152

 
71.58

 

 

 

 

 

 

 

(a)

Presented at the target payouts.The payout at vesting was 84% of the target.
ROCEI/ROAI  
STOCK-BASED INCENTIVE PLANS  
Summary of the changes of awards

 

 

 

ROCEI / ROAI

 

 

 

Awards
(000’s)

 

Weighted-Average
Grant-Date
Fair Value of Occidental Stock

 

Unvested at January 1

 
392

 

$
85.43

 

Vested (a)

 
(124)

 
87.52

 

 

 

 

 

 

 

Unvested at December 31

 
268

 
84.46

 

 

 

 

 

 

 

(a)

Presented at the target payouts.The payout at vesting was 53% of the target for approximately 6,000 shares. The payout at vesting was 0% of target for the remaining 118,000 shares.