Earnings Per Share Calculation

9 Months Ended

Aug. 01, 2020

Earnings Per Share [Abstract]

Earnings Per Share Calculation

EARNINGS PER SHARE CALCULATION

The following tables (in thousands except per share amounts) reconcile basic net income per common share (“Basic EPS”) and diluted net income per potential common share (“Diluted EPS”). Basic EPS is computed using the weighted average number of common shares outstanding. Diluted EPS is computed using the weighted average number of the following, in each case, to the extent the effect is not anti-dilutive: (i) common shares outstanding; (ii) shares issuable upon vesting of stock unit awards; and (iii) shares issuable under Ciena’s employee stock purchase plan and upon exercise of outstanding stock options, using the treasury stock method.

	Quarter Ended				Nine Months Ended
	August 1,		August 3,		August 1,		August 3,
Numerator	2020		2019		2020		2019
Net income used to calculate Basic and Diluted EPS	$	142,267	$	86,749	$	296,250	$	173,103

	Quarter Ended		Nine Months Ended
	August 1,	August 3,	August 1,	August 3,
Denominator	2020	2019	2020	2019
Basic weighted average shares outstanding	154,184	155,488	154,136	156,013
Add: Shares underlying outstanding stock options and stock unit awards and issuable under employee stock purchase plan	2,134	1,967	1,605	1,936
Dilutive weighted average shares outstanding	156,318	157,455	155,741	157,949

	Quarter Ended				Nine Months Ended
	August 1,		August 3,		August 1,		August 3,
EPS	2020		2019		2020		2019
Basic EPS	$	0.92	$	0.56	$	1.92	$	1.11
Diluted EPS	$	0.91	$	0.55	$	1.90	$	1.10

The following table summarizes the weighted average shares excluded from the calculation of the denominator for Diluted EPS due to their anti-dilutive effect for the periods indicated (in thousands):

	Quarter Ended		Nine Months Ended
	August 1,	August 3,	August 1,	August 3,
	2020	2019	2020	2019
Shares underlying stock options and stock unit awards	13	253	316	256
Total shares excluded due to anti-dilutive effect	13	253	316	256