On the cash flow statement, under Investing Activities, the company shows a large cash inflow from the sale of investment securities in the 2020 fiscal year. This amount was unusually high for Procter & Gamble. How much cash did P&G receive from the sale of investment securities in 2020? Why might P&G have sold virtually all of their investment securities in the 2020 fiscal year?

2021 2020 4,239 2019 2.569 $ 16,181 $ 13,103 3,013 3,966 2,824 14,352 2,735 512 540 (258) (16) 558 (596) 7 (342) (309) 1,391 (369) 135 18,371 634 (637) 1,923 (710) 108 17,403 515 (411) (678) 8,345 (276) (239) 1,856 (973) 313 15,242 Consolidated Statements of Cash Flows Amounts in millions; Years ended June 30 CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR OPERATING ACTIVITIES Net earnings Depreciation and amortization Loss on early extinguishment of debt Share-based compensation expense Deferred income taxes Loss/gain) on sale of assets Goodwill and indefinite-lived intangible impairment charges Change in accounts receivable Change in inventories Change in accounts payable, accrued and other liabilities Change in other operating assets and liabilities Other TOTAL OPERATING ACTIVITIES INVESTING ACTIVITIES Capital expenditures Proceeds from asset sales Acquisitions, net of cash acquired Purchases of investment securities Proceeds from sales and maturities of investment securities Change in other investments TOTAL INVESTING ACTIVITIES FINANCING ACTIVITIES Dividends to shareholders Increases/(reductions) in short-term debt Additions to long-term debt Reductions of long-term debt) Treasury stock purchases Impact of stock options and other TOTAL FINANCING ACTIVITIES EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR SUPPLEMENTAL DISCLOSURE Cash payments for interest Cash payments for income taxes (1) Includes early extinguishment of debt costs of $512 in 2021. (2,787) 42 (34) (55) (3,073) 30 (58) (3,347) 394 (3,945) (158) 3,628 (62) (3,490) 6,151 (5) 3,045 (2,834) (8,263) (3,333) 4,417 (4,987) (11,009) 1,644 (21,531) (7,789) 2,345 4,951 (2,447) (7,405) 1,978 (8,367) (7,498) (2,215) 2,367 (969) (5,003) 3,324 (9,994) 101 (5,893) 10,288 (139) 11,942 16,181 (88) 1,670 4,239 $ S $ $ 531 3,822 434 3,550 497 3,064 See accompanying Notes to Consolidated Financial Statements