FAIR VALUE MEASUREMENTS

6 Months Ended

Apr. 30, 2016

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

As of the date indicated, the following table summarizes the assets and liabilities that are recorded at fair value on a recurring basis (in thousands):

	April 30, 2016
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	749,856	$	—	$	—	$	749,856
U.S. government obligations	—		315,415		—		315,415
Commercial paper	—		69,969		—		69,969
Foreign currency forward contracts	—		1,173		—		1,173
Total assets measured at fair value	$	749,856	$	386,557	$	—	$	1,136,413
Liabilities:
Foreign currency forward contracts	$	—	$	548	$	—	$	548
Forward starting interest rate swap	—		5,428		—		5,428
Total liabilities measured at fair value	$	—	$	5,976	$	—	$	5,976

	October 31, 2015
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	642,073	$	—	$	—	$	642,073
U.S. government obligations	—		205,223		—		205,223
Commercial paper	—		74,983		—		74,983
Foreign currency forward contracts	—		89		—		89
Total assets measured at fair value	$	642,073	$	280,295	$	—	$	922,368
Liabilities:
Foreign currency forward contracts	$	—	$	512	$	—	$	512
Forward starting interest rate swap	—		5,522		—		5,522
Total liabilities measured at fair value	$	—	$	6,034	$	—	$	6,034

As of the date indicated, the assets and liabilities above are presented on Ciena’s Condensed Consolidated Balance Sheet as follows (in thousands):

	April 30, 2016
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	749,856	$	64,972	$	—	$	814,828
Short-term investments	—		195,179		—		195,179
Prepaid expenses and other	—		1,173		—		1,173
Long-term investments	—		125,233		—		125,233
Total assets measured at fair value	$	749,856	$	386,557	$	—	$	1,136,413
Liabilities:
Accrued liabilities	$	—	$	548	$	—	$	548
Other long-term obligations	—		5,428		—		5,428
Total liabilities measured at fair value	$	—	$	5,976	$	—	$	5,976

	October 31, 2015
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	642,073	$	49,994	$	—	$	692,067
Short-term investments	—		135,107		—		135,107
Prepaid expenses and other	—		89		—		89
Long-term investments	—		95,105		—		95,105
Total assets measured at fair value	$	642,073	$	280,295	$	—	$	922,368
Liabilities:
Accrued liabilities	$	—	$	512	$	—	$	512
Other long-term obligations	—		5,522		—		5,522
Total liabilities measured at fair value	$	—	$	6,034	$	—	$	6,034

Ciena did not have any transfers between Level 1 and Level 2 fair value measurements during the periods presented.