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STOCK-BASED INCENTIVE PLANS (Tables) | 12 Months Ended
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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.

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