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STOCK-BASED INCENTIVE PLANS (Tables)
 12 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of changes in Occidental's unvested cash- and stock- settled RSUs
A summary of changes in Occidental’s unvested cash- and stock-settled RSUs during the year ended December 31, 2018, is presented below:
 
 
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
 
269

 
 
$
71.58

 
 
3,951

 
 
$
73.24

 
Granted
 
133

 
 
75.86

 
 
1,689

 
 
69.87

 
Vested
 
(212
)
 
 
72.23

 
 
(1,469
)
 
 
69.89

 
Forfeitures
 
(4
)
 
 
70.06

 
 
(200
)
 
 
70.37

 
Unvested at December 31
 
186

 
 
73.93

 
 
3,971

 
 
73.19

 
Grant-date assumptions used in the Monte Carlo simulation models for the estimated payout level of TSRIs
The grant-date assumptions used in the Monte Carlo simulation models for the estimated payout level of TSRIs were as follows:
 
 
TSRIs
Year Granted
 
2018
 
2017
 
2016
Assumptions used:
 
 
 
 
 
 
Risk-free interest rate
 
2.3
%
 
1.5
%
 
0.8
%
Dividend yield
 
4.4
%
 
4.5
%
 
3.9
%
Volatility factor
 
24
%
 
25
%
 
24
%
Expected life (years)
 
3

 
3

 
3

Grant-date fair value of underlying Occidental common stock
 
$
69.87

 
$
67.21

 
$
76.83
Summary of the changes of awards
A summary of Occidental’s unvested TSRIs as of December 31, 2018, and changes during the year ended December 31, 2018, is presented below:
 
 
TSRIs
 
 
Awards
(000’s)
 
Weighted-Average
Grant-Date Fair
Value of Occidental Stock
Unvested at January 1
 
1,152

 
 
$
71.58

 
Granted
 
448

 
 
69.87

 
Vested (a)
 
(145
)
 
 
72.54

 
Forfeitures
 
(11
)
 
 
69.87

 
Unvested at December 31
 
1,444

 
 
70.97

 
(a)
The payout at vesting was 100% of the target.
 
 
CROCEI, ROCEI, and ROAI
 
 
Awards
(000's)
 
Weighted-Average
Grant-Date
Fair Value of Occidental Stock
Unvested at January 1
 
268

 
 
$
84.46

 
Granted
 
80

 
 
69.87

 
Vested (a)
 
(132
)
 
 
101.95

 
Forfeited
 
(6
)
 
 
69.87

 
Unvested at December 31
 
210

 
 
71.60

 
(a)
Presented at the target payouts. The payout at vesting was 97.5% of the target for approximately 6,000 shares. The payout at vesting was 0% of target for the remaining 126,000 shares.
Summary of Option and SAR transactions
The following is a summary of option transactions during the year ended December 31, 2018:
 
 
SARs & Options (000's)
 
Weighted-Average Exercise Price
 
Weighted-Average Remaining Contractual Term (yrs)
 
Aggregate Intrinsic Value (000’s)
Beginning balance, January 1
 
549

 
$
79.98

 
 
 
 
Exercised
 
(19
)
 
79.98

 
 
 
 
Ending balance, December 31
 
530

 
79.98

 
3.1
 
$
—

Exercisable at December 31
 
530

 
79.98

 
3.1
 
$
—