(in millions)

2015

2014

Beginning of year balance

$

12,961

$

12,980

Acquisitions⁽¹⁾

181

—

Goodwill adjustments related to Quellos and other⁽²⁾

(19

)

(19

)

End of year balance

$

13,123

$

12,961

(1)

In 2015, amount represents $113 million of goodwill from the Company’s acquisition of FutureAdvisor, which expanded the Company’s digital wealth management capabilities, $49 million of goodwill from the Company’s acquisition of Infraestructura Institucional, which expanded the Company’s infrastructure capabilities in Mexico, and $19 million of goodwill from the Company’s acquisition of certain assets related to BKCA.  The total consideration paid for these acquisitions was approximately $300 million, including $27 million of contingent consideration at fair value at time of close.

(2)

The decrease in goodwill during both 2015 and 2014 primarily resulted from a decline related to tax benefits realized from tax-deductible goodwill in excess of book goodwill from the acquisition of the fund-of-funds business of Quellos Group, LLC in October 2007 (the “Quellos Transaction”). Goodwill related to the Quellos Transaction will continue to be reduced in future periods by the amount of tax benefits realized from tax-deductible goodwill in excess of book goodwill from the Quellos Transaction. The balance of the Quellos tax-deductible goodwill in excess of book goodwill was approximately $231 million and $263 million at December 31, 2015 and 2014, respectively.