FAIR VALUE MEASUREMENTS

9 Months Ended

Jul. 31, 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):

	July 31, 2017
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	392,351	$	—	$	—	$	392,351
U.S. government obligations	—		284,634		—		284,634
Commercial paper	—		89,887		—		89,887
Foreign currency forward contracts	—		1,811		—		1,811
Total assets measured at fair value	$	392,351	$	376,332	$	—	$	768,683
Liabilities:
Foreign currency forward contracts	$	—	$	229	$	—	$	229
Forward starting interest rate swap	—		1,396		—		1,396
Total liabilities measured at fair value	$	—	$	1,625	$	—	$	1,625

	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):

	July 31, 2017
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	392,351	$	79,904	$	—	$	472,255
Short-term investments	—		234,743		—		234,743
Prepaid expenses and other	—		1,811		—		1,811
Long-term investments	—		59,874		—		59,874
Total assets measured at fair value	$	392,351	$	376,332	$	—	$	768,683
Liabilities:
Accrued liabilities	$	—	$	229	$	—	$	229
Other long-term obligations	—		1,396		—		1,396
Total liabilities measured at fair value	$	—	$	1,625	$	—	$	1,625

	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.