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 June 30, | | Six months ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | (in millions) | Amount | % | | Amount | % | | Amount | % | | Amount | % | | Edison International: | | | | | | | | | | | | | Income from operations before income taxes | $ | 675 | | | | $ | 384 | | | | $ | 1,346 | | | | $ | 2,324 | | | Federal statutory tax rate | $ | 142 | | 21.0 | % | | $ | 81 | | 21.0 | % | | $ | 283 | | 21.0 | % | | $ | 488 | | 21.0 | % | State income tax, net of federal income tax effect1 | 20 | | 3.0 | % | | (18) | | (4.7) | % | | 41 | | 3.0 | % | | 91 | | 3.9 | % | Tax credits | — | | — | % | | (5) | | (1.3) | % | | (15) | | (1.1) | % | | (11) | | (0.5) | % | Other adjustments | | | | | | | | | | | | | Property-related | (57) | | (8.4) | % | | (68) | | (17.7) | % | | (122) | | (9.0) | % | | (126) | | (5.4) | % | Corporate alternative minimum tax | 2 | | 0.3 | % | | — | | — | % | | 20 | | 1.5 | % | | — | | — | % | | Other | 7 | | 1.0 | % | | (4) | | (0.9) | % | | 8 | | 0.6 | % | | (8) | | (0.3) | % | | Effective tax rate | $ | 114 | | 16.9 | % | | $ | (14) | | (3.6) | % | | $ | 215 | | 16.0 | % | | $ | 434 | | 18.7 | % | | SCE: | | | | | | | | | | | | | Income from operations before income taxes | $ | 819 | | | | $ | 490 | | | | $ | 1,595 | | | | $ | 2,579 | | | Federal statutory tax rate | $ | 172 | | 21.0 | % | | $ | 103 | | 21.0 | % | | $ | 335 | | 21.0 | % | | $ | 542 | | 21.0 | % | State income tax, net of federal income tax effect1 | 32 | | 3.9 | % | | (11) | | (2.2) | % | | 59 | | 3.7 | % | | 106 | | 4.2 | % | Tax credits | — | | — | % | | (5) | | (1.0) | % | | (15) | | (0.9) | % | | (11) | | (0.5) | % | Other adjustments | | | | | | | | | | | | | Property-related | (57) | | (7.0) | % | | (68) | | (13.9) | % | | (122) | | (7.7) | % | | (126) | | (4.9) | % | Corporate alternative minimum tax | 2 | | 0.3 | % | | — | | — | % | | 20 | | 1.3 | % | | — | | — | % | | Other | 1 | | 0.1 | % | | (5) | | (1.0) | % | | 1 | | — | % | | (9) | | (0.3) | % | | Effective tax rate | $ | 150 | | 18.3 | % | | $ | 14 | | 2.9 | % | | $ | 278 | | 17.4 | % | | $ | 502 | | 19.5 | % |
1State taxes in California represents substantially all of the tax effect in this category.
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