Short-Term and Long-Term Debt |
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Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term and Long-Term Debt | SHORT-TERM AND LONG-TERM DEBT Outstanding Term Loan Payable 2022 Term Loan The net carrying value of Ciena's Term Loan due January 30, 2022 (the "2022 Term Loan") was comprised of the following for the fiscal periods indicated (in thousands):
Deferred debt issuance costs that were deducted from the carrying amounts of the 2022 Term Loan totaled $2.9 million at January 31, 2018 and $3.1 million at October 31, 2017. Deferred debt issuance costs are amortized using the straight-line method, which approximates the effect of the effective interest rate method, through the maturity of the 2022 Term Loan. The amortization of deferred debt issuance costs for the 2022 Term Loan is included in interest expense, and was $0.2 million during the first three months of fiscal 2018. There was no recorded amortization of deferred debt issuance costs for the 2022 Term Loan included in interest expense during the first three months of fiscal 2017. The carrying values of the 2022 Term Loan listed above are also net of any unamortized debt discounts. The principal balance, unamortized debt discount, deferred debt issuance costs and net carrying value of the liability components of Ciena's 2022 Term Loan were as follows as of January 31, 2018 (in thousands):
The following table sets forth the carrying value and the estimated fair value of Ciena's 2022 Term Loan (in thousands):
Outstanding Convertible Notes Payable The net carrying values of Ciena's outstanding convertible notes payable was comprised of the following for the fiscal periods indicated (in thousands):
Deferred debt issuance costs that were deducted from the carrying amounts of the convertible notes payable totaled $1.7 million at January 31, 2018 and $2.1 million at October 31, 2017. Deferred debt issuance costs are amortized using the straight-line method, which approximates the effect of the effective interest rate method, through the maturity of the convertible notes payable. The amortization of deferred debt issuance costs is included in interest expense, and was $0.4 million and $0.5 million during the first three months of fiscal 2018 and 2017, respectively. The carrying values of the convertible notes payable listed above also include accretion of principal and are net of any unamortized debt discounts. The principal balance, unamortized debt discount, deferred debt issuance costs and net carrying value of the liability and equity components of Ciena's outstanding issues of convertible notes were as follows as of January 31, 2018 (in thousands):
The following table sets forth, in thousands, the net carrying value and the estimated fair value of Ciena’s outstanding issues of convertible notes as of January 31, 2018:
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