Property, Net

Property, net consisted of the following:



	December 30, 2015		December 31, 2014
	(In thousands)
Land	$	29,856	$	27,198
Buildings and leasehold improvements	238,134		233,339
Other property and equipment	77,392		77,493
Total property owned	345,382		338,030
Less accumulated depreciation	235,967		241,678
Property owned, net	109,415		96,352
Buildings, vehicles and other equipment held under capital leases	27,429		26,836
Less accumulated amortization	12,028		13,411
Property held under capital leases, net	15,401		13,425
Total property, net	$	124,816	$	109,777

The following table reflects the property assets, included in the table above, which were leased to franchisees:



	December 30, 2015		December 31, 2014
	(In thousands)
Land	$	16,192	$	14,977
Buildings and leasehold improvements	61,551		63,098
Total property owned, leased to franchisees	77,743		78,075
Less accumulated depreciation	52,872		53,994
Property owned, leased to franchisees, net	24,871		24,081
Buildings held under capital leases, leased to franchisees	4,573		7,251
Less accumulated amortization	3,003		5,208
Property held under capital leases, leased to franchisees, net	1,570		2,043
Total property leased to franchisees, net	$	26,441	$	26,124

Depreciation expense, including amortization of property under capital leases, for 2015, 2014 and 2013 was $20.0 million, $19.2 million and $18.6 million, respectively. Substantially all owned property is pledged as collateral for our Credit Facility. See Note 10.