NOTES RECEIVABLE

12 Months Ended

Dec. 31, 2019

The following table presents the expected future principal payments, net of reserves and unamortized discounts, as well as interest rates for our notes receivable at year-end 2019:



Notes Receivable Principal Payments ($ in millions)	Amount
2020	$	9
2021	32
2022	28
2023	2
2024	8
Thereafter	47
Balance at year-end 2019	$	126
Weighted average interest rate at year-end 2019	5.6%
Range of stated interest rates at year-end 2019	0-9%

At year-end 2019, our recorded investment in impaired senior, mezzanine, and other loans was $20 million, and we had a $12 million allowance for credit losses, leaving $8 million of exposure to our investment in impaired loans. 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. Our average investment in impaired senior, mezzanine, and other loans totaled $33 million during 2019, $70 million during 2018, and $84 million during 2017.