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Interest and Other Income (Loss), Net
 6 Months Ended
May 01, 2021
Other Income and Expenses [Abstract]  
Interest and Other Income (Loss), Net INTEREST AND OTHER INCOME (LOSS), NET
The components of interest and other income (loss), net, are as follows (in thousands):
Quarter EndedSix Months Ended
May 1,May 2,May 1,May 2,
2021202020212020
Interest income$554 $2,023 $1,088 $5,413 
Gains on non-hedge designated foreign currency forward contracts5,180 1,086 9,709 1,723 
Foreign currency exchange losses(6,575)(4,067)(13,493)(4,839)
Other(433)(1,707)301 (1,316)
Interest and other income (loss), net$(1,274)$(2,665)$(2,395)$981 

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 local currencies as their functional currencies. Ciena recorded $13.5 million and $4.8 million in foreign currency exchange rate losses during the first six months of fiscal 2021 and 2020, respectively, as a result of monetary assets and liabilities that were transacted in a currency other than Ciena’s functional currency. The related remeasurement adjustments were recorded in interest and other income (loss), net, on the Condensed Consolidated Statements of Operations. From time to time, Ciena uses foreign currency forwards to hedge this type of balance sheet exposure. These forwards are not designated as hedges for accounting purposes, and any net gain or loss associated with these derivatives is reported in interest and other income (loss), net, on the Condensed Consolidated Statements of Operations. During the first six months of fiscal 2021 and 2020, respectively, Ciena recorded gains of $9.7 million and $1.7 million from non-hedge designated foreign currency forward contracts.