The value of global mergers and acquisitions in 2018 totaled $3.53 trillion—the third-highest deal value on record, according to a new Mergermarket report. But the total number of deals marked the first global decline since 2010.

In the U.S. alone, M&A deal value reached $1.5 trillion, a figure the report calls the second-highest U.S. total to date (2015 is still the leader, with just under $1.8 trillion) as well as an increase from 2017′s $1.3 trillion. Although the number of U.S. deals dipped slightly from the all-time high of 5,800 in 2017 to 5,718 in 2018, the past year still stands as the second-best on record by that measure.