Fair Value Measurements

3 Months Ended

Jan. 30, 2021

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):

	January 30, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	810,289	$	—	$	—	$	810,289
Bond mutual fund	50,348		—		—		50,348
Time deposits	35,014		—		—		35,014
Deferred compensation plan assets	10,669		—		—		10,669
U.S. government obligations	—		253,798		—		253,798
Foreign currency forward contracts	—		8,397		—		8,397
Total assets measured at fair value	$	906,320	$	262,195	$	—	$	1,168,515
Liabilities:
Foreign currency forward contracts	$	—	$	417	$	—	$	417
Forward starting interest rate swaps	—		26,248		—		26,248
Total liabilities measured at fair value	$	—	$	26,665	$	—	$	26,665

	October 31, 2020
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	889,293	$	—	$	—	$	889,293
Bond mutual fund	50,361		—		—		50,361
Deferred compensation plan assets	8,213		—		—		8,213
U.S. government obligations	—		232,893		—		232,893
Foreign currency forward contracts	—		82		—		82
Total assets measured at fair value	$	947,867	$	232,975	$	—	$	1,180,842
Liabilities:
Foreign currency forward contracts	$	—	$	681	$	—	$	681
Forward starting interest rate swaps	—		28,513		—		28,513
Total liabilities measured at fair value	$	—	$	29,194	$	—	$	29,194

As of the date indicated, the assets and liabilities above are presented on Ciena’s Condensed Consolidated Balance Sheets as follows (in thousands):

	January 30, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	895,651	$	—	$	—	$	895,651
Short-term investments	—		151,434		—		151,434
Prepaid expenses and other	—		8,397		—		8,397
Other long-term assets	10,669		102,364		—		113,033
Total assets measured at fair value	$	906,320	$	262,195	$	—	$	1,168,515
Liabilities:
Accrued liabilities and other short-term obligations	$	—	$	417	$	—	$	417
Other long-term obligations	—		26,248		—		26,248
Total liabilities measured at fair value	$	—	$	26,665	$	—	$	26,665

	October 31, 2020
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	939,654	$	—	$	—	$	939,654
Short-term investments	—		150,667		—		150,667
Prepaid expenses and other	—		82		—		82
Other long-term assets	8,213		82,226		—		90,439
Total assets measured at fair value	$	947,867	$	232,975	$	—	$	1,180,842
Liabilities:
Accrued liabilities and other short-term obligations	$	—	$	681	$	—	$	681
Other long-term obligations	—		28,513		—		28,513
Total liabilities measured at fair value	$	—	$	29,194	$	—	$	29,194

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