Company: SCE-PL
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000827052-25-000074
Chunk: 26

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 26
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 millions)2025202420252024Edison International:Income from operations before income taxes$384 $568 $2,324 $507 Provision for income tax at federal statutory rate of 21%81 119 488 106 Increase (decrease) in income tax from:State tax, net of federal tax effect(18)7 91 (30)Property-related(68)(62)(126)(117)Other(9)(5)(19)(13)Total income tax (benefit) expense$(14)$59 $434 $(54)Effective tax rate(3.6%)10.4 %18.7%(10.7%)SCE:Income from operations before income taxes$490 $655 $2,579 $677 Provision for income tax at federal statutory rate of 21%103 138 542 142 Increase (decrease) in income tax from:State tax, net of federal tax effect(11)13 106 (18)Property-related(68)(62)(126)(117)Other(10)(6)(20)(8)Total income tax expense (benefit)$14 $83 $502 $(1)Effective tax rate2.9%12.7 %19.5%(0.1%)The CPUC requires flow-through ratemaking treatment for the current tax benefit arising from certain property-related and other temporary differences which reverse over time. Flow-through items reduce current authorized revenue requirement in SCE's rate cases and result in a regulatory asset for recovery of deferred income taxes in future periods. The difference between the authorized amounts as determined in SCE's rate cases, adjusted for balancing and memorandum account activities, and the recorded flow-through items also result in increases or decreases in regulatory assets with a corresponding impact on the effective tax rate to the extent that recorded deferred amounts are expected to be recovered in future rates. For further information, see Note 11.Tax DisputesThe tax years that remain open for examination by the IRS and the California Franchise Tax Board are 2021 – 2023, and 2013 – 2018 & 2020 – 2023, respectively.

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Note 9.  Compensation and Benefit PlansPension PlansNet periodic pension expense components are:Three months ended June 30,Six months ended June 30,(in millions)2025202420252024Edison International:Service cost$23 $24 $