FAIR VALUE MEASUREMENTS

6 Months Ended

Apr. 30, 2017

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, 2017
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	474,476	$	—	$	—	$	474,476
U.S. government obligations	—		344,661		—		344,661
Commercial paper	—		79,917		—		79,917
Foreign currency forward contracts	—		827		—		827
Total assets measured at fair value	$	474,476	$	425,405	$	—	$	899,881
Liabilities:
Foreign currency forward contracts	$	—	$	1,811	$	—	$	1,811
Forward starting interest rate swap	—		1,070		—		1,070
Total liabilities measured at fair value	$	—	$	2,881	$	—	$	2,881

	October 31, 2016
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	625,277	$	—	$	—	$	625,277
U.S. government obligations	—		350,431		—		350,431
Commercial paper	—		69,959		—		69,959
Foreign currency forward contracts	—		175		—		175
Total assets measured at fair value	$	625,277	$	420,565	$	—	$	1,045,842
Liabilities:
Foreign currency forward contracts	$	—	$	1,396	$	—	$	1,396
Forward starting interest rate swap	—		5,967		—		5,967
Total liabilities measured at fair value	$	—	$	7,363	$	—	$	7,363

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, 2017
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	474,476	$	59,947	$	—	$	534,423
Short-term investments	—		274,779		—		274,779
Prepaid expenses and other	—		827		—		827
Long-term investments	—		89,852		—		89,852
Total assets measured at fair value	$	474,476	$	425,405	$	—	$	899,881
Liabilities:
Accrued liabilities	$	—	$	1,811	$	—	$	1,811
Other long-term obligations	—		1,070		—		1,070
Total liabilities measured at fair value	$	—	$	2,881	$	—	$	2,881

	October 31, 2016
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	625,277	$	54,970	$	—	$	680,247
Short-term investments	—		275,248		—		275,248
Prepaid expenses and other	—		175		—		175
Long-term investments	—		90,172		—		90,172
Total assets measured at fair value	$	625,277	$	420,565	$	—	$	1,045,842
Liabilities:
Accrued liabilities	$	—	$	1,396	$	—	$	1,396
Other long-term obligations	—		5,967		—		5,967
Total liabilities measured at fair value	$	—	$	7,363	$	—	$	7,363

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