NOTES RECEIVABLE

12 Months Ended

Dec. 31, 2018

The following table presents the expected future principal payments, net of reserves and unamortized discounts, as well as interest rates for our notes receivable as of year-end 2018:



Notes Receivable Principal Payments ($ in millions)	Amount
2019	$	6
2020	62
2021	2
2022	2
2023	—
Thereafter	59
Balance at year-end 2018	$	131
Weighted average interest rate at year-end 2018	5.9%
Range of stated interest rates at year-end 2018	0 - 9%

At year-end 2018, our recorded investment in impaired senior, mezzanine, and other loans was $45 million, and we had a $25 million allowance for credit losses, leaving $20 million of exposure to our investment in impaired loans. At year-end 2017, our recorded investment in impaired senior, mezzanine, and other loans was $95 million, and we had a $72 million allowance for credit losses, leaving $23 million of exposure to our investment in impaired loans. Our average investment in impaired senior, mezzanine, and other loans totaled $70 million during 2018, $84 million during 2017, and $73 million during 2016.