(in millions)

2019

2018

Beginning of year balance

$

13,526

$

13,220

Acquisitions

1,044

316

Goodwill adjustments related to Quellos and other⁽¹⁾

(8

)

(10

)

End of year balance

$

14,562

$

13,526

(1)

Amounts 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 $106 million and $137 million at December 31, 2019 and 2018, respectively.