INTEREST AND OTHER INCOME (LOSS), NET

The components of interest and other income (loss), net, were as follows (in thousands):



	Year Ended October 31,
	2018			2017			2016
Interest income	$	13,703		$	6,579		$	4,058
Gain (loss) on non-hedge designated foreign currency forward contracts	6,791			(1,198		)	(23,355		)
Foreign currency exchange gains (losses)	(19,434		)	(4,376		)	5,870
Loss on fair value of debt conversion liability	(12,070		)	—			—
Other	(1,019		)	(92		)	858
Interest and other income (loss), net	$	(12,029	)	$	913		$	(12,569	)

Ciena Corporation, as the U.S. parent entity, uses the U.S. Dollar as its functional currency; however, some of its foreign branch offices and subsidiaries use the local currency as their functional currency. During fiscal 2018 and fiscal 2017, Ciena recorded $19.4 million and $4.4 million, respectively, in exchange rate losses, as a result of monetary assets and liabilities that were transacted in a currency other than the entity’s functional currency, and the re-measurement adjustments were recorded in interest and other income (loss), net. For fiscal 2018, the majority of the foreign currency exchange rate losses relate to Ciena’s Brazilian and Argentinian subsidiaries owing U.S. Dollars to Ciena Corporation. In fiscal 2016, Ciena recorded $5.9 million in foreign currency exchange gains. From time to time, Ciena uses foreign currency forwards to hedge these balance sheet exposures. These forwards are not designated as hedges for accounting purposes, and any net gain or loss associated with these derivatives is also reported in interest and other income (loss), net. During fiscal 2018, Ciena recorded a gain of $6.8 million from non-hedge designated foreign currency forward contracts. For fiscal 2017 and fiscal 2016, Ciena recorded losses of $1.2 million, and $23.4 million respectively, from non-hedge designated foreign currency forward contracts.