Property

12 Months Ended

Dec. 25, 2024

Property, Plant and Equipment [Abstract]

Property

Property

Property, net consisted of the following:

	December 25, 2024		December 27, 2023
	(In thousands)
Land	$	43,196	$	43,577
Buildings and leasehold improvements	182,560		169,005
Other property and equipment	45,249		40,791
Total property	271,005		253,373
Less accumulated depreciation	159,588		159,879
Property, net	$	111,417	$	93,494

The following table reflects the property assets, included in the table above, and buildings with finance leases which were leased to franchisees:

	December 25, 2024		December 27, 2023
	(In thousands)
Land	$	23,166	$	23,825
Buildings and leasehold improvements	63,338		66,763
Total property owned, leased to franchisees	86,504		90,588
Less accumulated depreciation	55,699		58,006
Property owned, leased to franchisees, net	30,805		32,582
Buildings held under finance leases, leased to franchisees	5,233		5,505
Less accumulated amortization	3,024		3,218
Property held under finance leases, leased to franchisees, net	2,209		2,287
Total property leased to franchisees, net	$	33,014	$	34,869

Depreciation expense, including amortization of property under finance leases, for 2024, 2023 and 2022 was $12.6 million, $12.2 million and $12.8 million, respectively. Substantially all owned property is pledged as collateral for our Credit Facility. See Note 10.