(in millions)

2020

2019

Beginning of year balance

$

14,562

$

13,526

Acquisition⁽¹⁾

—

1,044

Goodwill adjustments related to Quellos and other⁽²⁾

(11

)

(8

)

End of year balance

$

14,551

$

14,562

(1)

In 2019, the $1,044 million increase in goodwill resulted from the eFront Transaction. See Note 3, Acquisition, for information on the eFront Transaction.

(2)

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 $74 million and $106 million at December 31, 2020 and 2019, respectively.