For the fiscal years ended January $29,2021$ and January $31,2020,$ the Company had no material measurements of assets and liabilities at fair value on a nonrecurring basis subsequent to their initial recognition.

Other Fair Value Disclosures

The Company's financial assets and liabilities not measured at fair value on a recurring basis include cash and cash equivalents, accounts receivable, accounts payable, short$-$term borrowings, and long$-$term debt and are reflected in the financial statements at cost$.$ With the exception of long$-$term debt, cost approximates fair value for these items due to their short$-$term nature. The fair values of the Company's unsecured notes were estimated using quoted market prices. The fair values of the Company's mortgage notes were estimated using discounted cash flow analyses, based on the future cash outflows associated with these arrangements and discounted using the applicable incremental borrowing rate.

Carrying amounts and the related estimated fair value of the Company's long$-$term debt, excluding finance lease obligations, are as follows:

January $29,2021$

January $31,2020$

NOTE $4$: Property and Accumulated Depreciation

Property is summarized by major class in the following table:

$($In millions$)$ Cost:

Land

Buildings and building improvements

Equipment

Construction in progress

Total cost

Accumulated depreciation

Property, less accumulated depreciation

Estimated

Depreciable

Lives, In Years

N$/$A $

$5-40$

$2-15$

N$/$A

N$/$A

Effective as of January $29,2021,$ excess property amounts previously reported in other assets were reclassified to property; less accumulated depreciation. Prior year amounts have been reclassified to conform to current period presentation.

As of January $29,2021$ and January $31,2020,$ included in property, less accumulated depreciation are assets under finance lease of $$661$ million less accumulated depreciation of $$122$ million and $$597$ million less accumulated depreciation of $$42$ million, respectively. The related amortization expense for assets under finance leases are included in depreciation and amortization expense. The Company recognized depreciation and amortization expense, inelusive of amounts presented in cost of sales, of $$1\mathrm{.}5$ billion in $2020$ and $$1\mathrm{.}4$ billion in $2019$ and $$1.6$ billion in $2018.$