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Income Taxes
 6 Months Ended
Jun. 30, 2021
Income Taxes  
Income Taxes

13.     Income taxes

For the three and six months ended June 30, 2021, we recorded income tax expense of approximately $22.2 million and $38.0 million, respectively.  For the three and six months ended June 30, 2020, we recorded income tax expense of approximately $17.0 million and $33.5 million, respectively. The tax expense for the three and six months ended June 30, 2021 and 2020 represents primarily federal and state tax liabilities that are not fully sheltered by net operating losses or research and development tax credit carryforwards.

As of June 30, 2021, a full valuation allowance continues to be recorded against our U.S. and Swiss net deferred tax assets. Based upon our analysis of our historical operating results, as well as projections of our future taxable income (losses) during the periods in which the temporary differences will be recoverable, we believe the uncertainty regarding the realization of our U.S. and Swiss net deferred tax assets requires a full valuation allowance against such net assets as of June 30, 2021. When performing our assessment on projections of future taxable income (losses), we consider factors such as the likelihood of regulatory approval and commercial success of products currently under development, among other factors.

The balance of our unrecognized tax benefits (including penalties and interest) increased by approximately $1.7 million during the six months ended June 30, 2021. The overall net increase is primarily driven by unrecognized tax benefits related to current year operations and research and development tax credits. After considering valuation allowance impacts, the change in unrecognized tax benefits resulted in a $0.1 million decrease to noncurrent other liabilities on the condensed consolidated balance sheet.