Income Taxes (Tables)

9 Months Ended

Sep. 30, 2024

Income Taxes

Summary of reconciliation of income tax expense

The table below provides a reconciliation of income tax expense computed at the federal statutory income tax rate to the income tax provision:

	Three months ended September 30,						Nine months ended September 30,
(in millions)	2024			2023			2024			2023
Edison International:
Income from operations before income taxes	$	645		$	189		$	1,152		$	1,027
Provision for income tax at federal statutory rate of 21%		136			40			242			216
Increase (decrease) in income tax from:
State tax, net of federal tax effect		12			(16)			(18)			(16)
Property-related		(78)			(47)			(195)			(152)
Other		(2)			—			(15)			(7)
Total income tax expense (benefit)	$	68		$	(23)		$	14		$	41
Effective tax rate		10.5	%		(12.2)	%		1.2	%		4.0	%
SCE:
Income from operations before income taxes	$	736		$	268		$	1,413		$	1,213
Provision for income tax at federal statutory rate of 21%		155			56			297			255
Increase (decrease) in income tax from:
State tax, net of federal tax effect		18			(11)			—			—
Property-related		(78)			(47)			(195)			(152)
Other		—			1			(8)			(7)
Total income tax expense (benefit)	$	95		$	(1)		$	94		$	96
Effective tax rate		12.9	%		(0.4)	%		6.7	%		7.9	%