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STOCK-BASED INCENTIVE PLANS (Tables)
 12 Months Ended
Dec. 31, 2016
STOCK-BASED INCENTIVE PLANS  
Summary of certain stock-based based compensation expenses

 

For the years ended December 31, (in millions)

 

2016

 

2015

 

2014

Compensation expense

 

$
121 

 

 

$
49 

 

 

$
129 

 

Income tax benefit recognized in the income statement

 
43 

 

 
17 

 

 
46 

 

 

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

 
1,130

 

 

 

$
81.06

 

 

 
1,758

 

 

 

$
81.19

 

 

Granted

 
53

 

 

 
75.57

 

 

 
2,238

 

 

 
74.82

 

 

Vested

 
(536

)

 

 
83.18

 

 

 
(417

)

 

 
82.35

 

 

Forfeitures

 
(46

)

 

 
80.89

 

 

 
(79

)

 

 
77.00

 

 

Unvested at December 31

 
601

 

 

 
78.70

 

 

 
3,500

 

 

 
77.07

 

 

 

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

 

 

 

TSRIs

Year Granted

 

2016

 

2015

 

2014

Assumptions used:

 

 

 

 

 

 

Risk-free interest rate

 
0.8 

%

 
0.9 

%

 
1.0 

%

Dividend yield

 
3.9 

%

 
4.1 

%

 
2.8 

%

Volatility factor

 
42 

%

 
37 

%

 
27 

%

Expected life (years)

 
3 

 

 
3 

 

 
3 

 

Grant-date fair value of underlying Occidental common stock

 

$
76.83 

 

 

$
72.54 

 

 

$
101.95 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 
629

 

 

$
77.58

 

 

 

 

 

Exercised

 
(47

)

 
45.53

 

 

 

 

 

Granted

 

—

 

 

—

 

 

 

 

 

Forfeited

 
(11

)

 
79.98

 

 

 

 

 

Ending balance, December 31

 
571

 

 
79.98

 

 
5.1

 

 

$

—

 

Exercisable at December 31

 
214

 

 
79.98

 

 
5.1

 

 

$

—

 

 

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 (a)

 
346

 

 

 

$
83.75

 

 

Granted (a)

 
473

 

 

 
76.83

 

 

Vested (a)

 
(102

)

 

 
87.27

 

 

Forfeitures

 
(10

)

 

 
76.43

 

 

Unvested at December 31

 
707

 

 

 
78.72

 

 

(a)      Presented at the target payouts.

 

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 

 

 

Unvested at December 31

 
392 

 

 

 
85.43