republic services , inc . notes to consolidated financial statements 2014 ( continued ) 16 . financial instruments fuel hedges we have entered into multiple swap agreements designated as cash flow hedges to mitigate some of our exposure related to changes in diesel fuel prices . these swaps qualified for , and were designated as , effective hedges of changes in the prices of forecasted diesel fuel purchases ( fuel hedges ) . the following table summarizes our outstanding fuel hedges as of december 31 , 2013 : year gallons hedged weighted average contract price per gallon .
what was the ratio of the gallons hedged in 2014 to 2016
if the national u.s . on-highway average price for a gallon of diesel fuel as published by the department of energy exceeds the contract price per gallon , we receive the difference between the average price and the contract price ( multiplied by the notional gallons ) from the counterparty . if the average price is less than the contract price per gallon , we pay the difference to the counterparty . the fair values of our fuel hedges are determined using standard option valuation models with assumptions about commodity prices being based on those observed in underlying markets ( level 2 in the fair value hierarchy ) . the aggregate fair values of our outstanding fuel hedges as of december 31 , 2013 and 2012 were current assets of $ 6.7 million and $ 3.1 million , respectively , and current liabilities of $ 0.1 million and $ 0.4 million , respectively , and have been recorded in other prepaid expenses and other current assets and other accrued liabilities in our consolidated balance sheets , respectively . the ineffective portions of the changes in fair values resulted in ( losses ) gains of less than $ 0.1 million for the years ended december 31 , 2013 , 2012 and 2011 , and have been recorded in other income ( expense ) , net in our consolidated statements of income . total gain ( loss ) recognized in other comprehensive income for fuel hedges ( the effective portion ) was $ 2.4 million , $ 3.4 million and $ ( 1.7 ) million , for the years ended december 31 , 2013 , 2012 and 2011 , respectively . recycling commodity hedges our revenue from sale of recycling commodities is primarily from sales of old corrugated cardboard ( occ ) and old newspaper ( onp ) . we use derivative instruments such as swaps and costless collars designated as cash flow hedges to manage our exposure to changes in prices of these commodities . we have entered into multiple agreements related to the forecasted occ and onp sales . the agreements qualified for , and were designated as , effective hedges of changes in the prices of certain forecasted recycling commodity sales ( commodity hedges ) . we entered into costless collar agreements on forecasted sales of occ and onp . the agreements involve combining a purchased put option giving us the right to sell occ and onp at an established floor strike price with a written call option obligating us to deliver occ and onp at an established cap strike price . the puts and calls have the same settlement dates , are net settled in cash on such dates and have the same terms to expiration . the contemporaneous combination of options resulted in no net premium for us and represent costless collars . under these agreements , we will make or receive no payments as long as the settlement price is between the floor price and cap price ; however , if the settlement price is above the cap , we will pay the counterparty an amount equal to the excess of the settlement price over the cap times the monthly volumes hedged . if the settlement price .