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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Components of Income Tax Expense (Benefit)
The components of income tax expense (benefit) by location of taxing jurisdiction are:
Edison InternationalSCE
Years ended December 31,
(in millions)202420232022202420232022
Current:
Federal$1 $— $2 $3 $— $— 
State7 — 13 48 5 2 
8 — 15 51 5 2 
Deferred:
Federal59 101 (103)118 149 (44)
State(50)7 (74)(49)30 (67)
9 108 (177)69 179 (111)
Total$17 $108 $(162)$120 $184 $(109)
Components of Net Accumulated Deferred Income Tax Liability
The components of net accumulated deferred income tax liability are:
Edison InternationalSCE
December 31,
(in millions)2024202320242023
Deferred tax assets:
Property$943 $894 $929 $877 
Wildfire-related1
254 356 251 354 
Nuclear decommissioning trust assets in excess of nuclear ARO liability373 380 373 380 
Loss and credit carryforwards2
3,703 3,486 2,242 2,103 
Regulatory balances610 626 610 626 
Pension and postretirement benefits other than pensions, net117 127 21 25 
Leases335 345 335 345 
Other177 159 167 147 
Sub-total6,512 6,373 4,928 4,857 
Less: valuation allowance3
17 17 — — 
Total6,495 6,356 4,928 4,857 
Deferred tax liabilities:
Property11,220 10,627 11,202 10,611 
Regulatory balances1,299 1,450 1,299 1,450 
Nuclear decommissioning trust assets373 380 373 380 
Leases335 345 335 345 
Other187 187 155 158 
Total13,414 12,989 13,364 12,944 
Accumulated deferred income tax liability, net4
$6,919 $6,633 $8,436 $8,087 
1Relates to estimated losses accrual for wildfire-related claims, net of expected recoveries from insurance and FERC customers, and contributions to the Wildfire Insurance Fund. For further information, see Note 12 and Note 1.
2As of December 31, 2024, unrecognized tax benefits of $397 million and $327 million for Edison International and SCE, respectively, are presented net against the deferred tax asset for the loss and tax credit carryforwards. As of December 31, 2023, the unrecognized tax benefits netted against deferred tax assets and tax credit carryforwards were $363 million and $299 million for Edison International and SCE, respectively.
3As of December 31, 2024 and 2023, Edison International has recorded $17 million valuation allowance on deferred tax assets. The $17 million valuation allowance is related to non-California state net operating loss carryforwards which are expected to expire before being utilized.
4Included in "Deferred income taxes and credits" on the consolidated balance sheets.
Summary of Net Operating Loss and Tax Credit Carryforwards
The amounts of net operating loss and tax credit carryforwards (after-tax) are as follows:
Edison InternationalSCE
December 31, 2024
(in millions)Loss
Carryforwards		Credit
Carryforwards		Loss
Carryforwards		Credit
Carryforwards
Expire in 2025$7 $— $7 $— 
Expire between 2026 to 202928 — 12 — 
Expire between 2030 to 20441,719 699 786 290 
No expiration date1
1,623 24 1,448 26 
Total$3,377 $723 $2,253 $316 
1Under the Tax Cut and Jobs Act signed into law on December 22, 2017 ("Tax Reform"), net operating losses generated after December 31, 2017 can carryforward indefinitely.
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:
Edison InternationalSCE
Years ended December 31,
(in millions)202420232022202420232022
Income from operations before income taxes$1,563 $1,515 $662 $1,914 $1,781 $845 
Provision for income tax at federal statutory rate of 21%
328 318 139 402 374 177 
(Decrease) increase in income tax from:
State tax, net of federal income tax effect(24)3 (70)— 23 (57)
Property-related(279)(205)(219)(279)(205)(219)
Corporate-owned life insurance cash surrender value(9)(8)(9)(9)(8)(9)
Other1 — (3)6 — (1)
Total income tax expense (benefit)$17 $108 $(162)$120 $184 $(109)
Effective tax rate1.1 %7.1 %(24.5)%6.3 %10.3 %(12.9)%
Schedule of Reconciliation of Unrecognized Tax Benefits
The following table provides a reconciliation of unrecognized tax benefits:
Edison InternationalSCE
(in millions)202420232022202420232022
Balance at January 1,$430 $646 $613 $418 $374 $340 
Tax positions taken during the current year:
Increases66 65 54 66 65 54 
Tax positions taken during a prior year:
Increases1 13 — — 4 — 
Decreases1
(34)(294)(21)(27)(25)(20)
Balance at December 31,$463 $430 $646 $457 $418 $374 
1The Edison International decrease in 2023 was mainly related to a write-off of a reserve for a claim related to the Edison Mission Energy bankruptcy.
Schedule of Interest and Penalties Related to Income Tax Liabilities
The total amount of accrued interest and penalties related to income tax liabilities are:
Edison InternationalSCE
December 31,
(in millions)2024202320242023
Accrued interest and penalties$— $— $36 $28 
The net after-tax interest and penalties recognized in income tax (benefit) expense are:
Edison InternationalSCE
Years ended December 31,
(in millions)202420232022202420232022
Net after-tax interest and penalties tax expense$—$—$— $7$4$2