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STOCK-BASED INCENTIVE PLANS (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [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, 2019, is presented below:
 
 
Cash-Settled
 
Stock-Settled
thousands, except fair values
 
RSUs

 
Weighted-Average
Grant-Date
Fair Value
 
 
RSUs

 
Weighted-Average
Grant-Date
Fair Value
 
Unvested at January 1
 
186

 
 
$
73.93

 
3,971

 
 
$
73.19

Granted (a)
 
4,267

 
 
$
42.62

 
3,543

 
 
$
58.73

Vested
 
(67
)
 
 
$
72.26

 
(2,743
)
 
 
$
67.04

Forfeitures
 
(39
)
 
 
$
47.60

 
(376
)
 
 
$
67.25

Unvested at December 31
 
4,347

 
 
$
43.46

 
4,395

 
 
$
65.88


(a) 
Included 1.5 million shares issued in exchange for Anadarko stock-based incentive shares.
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
 
 
2019

 
2018

 
2017

Assumptions used:
 
 
 
 
 
 
Risk-free interest rate
 
2.5
%
 
2.3
%
 
1.5
%
Volatility factor
 
22
%
 
24
%
 
25
%
Expected life (years)
 
3

 
3

 
3

Grant-date fair value of underlying Occidental common stock
 
$
67.19

 
$
69.87

 
$
67.21
Summary of the changes of awards
 
 
CROCEI, ROCEI, and ROAI
thousands, except fair values
 
Awards

 
Weighted-Average
Grant-Date
Fair Value of Occidental Stock
 
Unvested at January 1
 
210

 
 
$
71.60

Granted
 
81

 
 
$
67.19

Vested (a)
 
(137
)
 
 
$
72.54

Forfeited
 
—

 
 
—

Unvested at December 31
 
154

 
 
$
68.44

(a) 
Presented at the target payouts. The weighted-average payout at vesting was 86% of the target resulting in the issuance of approximately 118,000 shares.
A summary of Occidental’s unvested TSRIs as of December 31, 2019 and changes during the year ended December 31, 2019 is presented below:
 
 
TSRIs
thousands, except fair values
 
Awards

 
Weighted-Average
Grant-Date Fair Value
of Occidental Stock
 
Unvested at January 1
 
1,444

 
 
$
70.97

Granted
 
578

 
 
$
67.19

Vested (a)
 
(442
)
 
 
$
76.83

Forfeitures
 
(43
)
 
 
$
76.83

Unvested at December 31
 
1,537

 
 
$
67.70

(a) 
Presented at the target payouts. The weighted-average payout at vesting was 19% of the target, resulting in the issuance of approximately 83,000 shares of Occidental common stock.