ineffective portion of the hedges or of derivatives that are not considered to be highly effective hedges , if any , are immediately recognized in earnings . the aggregate notional amount of our outstanding interest rate swaps at december 31 , 2014 and 2013 was $ 1.3 billion and $ 1.2 billion . the aggregate notional amount of our outstanding foreign currency hedges at december 31 , 2014 and 2013 was $ 804 million and $ 1.0 billion