Three months ended June 30,

Six months ended June 30,

(in millions)

2022

2021

2022

2021

Edison International:

Income from operations before income taxes

$

299

$

429

$

380

$

683

Provision for income tax at federal statutory rate of 21%

63

90

80

143

Increase (decrease) in income tax from:

State tax, net of federal benefit

(4)

18

(21)

11

Property-related

(48)

(43)

(93)

(126)

Corporate-owned life insurance cash surrender value

(1)

(3)

(4)

(5)

Other

(3)

6

(10)

9

Total income tax expense (benefit)

$

7

$

68

$

(48)

$

32

Effective tax rate

2.3

%

15.9

%

(12.6)

%

4.7

%

SCE:

Income from operations before income taxes

$

349

$

461

$

482

$

760

Provision for income tax at federal statutory rate of 21%

73

97

101

160

Increase (decrease) in income tax from:

State tax, net of federal benefit

—

19

(13)

15

Property-related

(48)

(43)

(93)

(126)

Corporate-owned life insurance cash surrender value

(1)

(3)

(4)

(5)

Other

(2)

6

(9)

8

Total income tax expense (benefit)

$

22

$

76

$

(18)

$

52

Effective tax rate

6.3

%

16.5

%

(3.7)

%

6.8

%