Fair Value Measurements

6 Months Ended

May 01, 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):

	May 1, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	933,403	$	—	$	—	$	933,403
Bond mutual fund	75,370		—		—		75,370
Time deposits	30,018		—		—		30,018
Deferred compensation plan assets	11,799		—		—		11,799
U.S. government obligations	—		243,531		—		243,531
Foreign currency forward contracts	—		13,785		—		13,785
Total assets measured at fair value	$	1,050,590	$	257,316	$	—	$	1,307,906
Liabilities:
Foreign currency forward contracts	$	—	$	285	$	—	$	285
Forward starting interest rate swaps	—		22,794		—		22,794
Total liabilities measured at fair value	$	—	$	23,079	$	—	$	23,079

	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):

	May 1, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	1,038,791	$	—	$	—	$	1,038,791
Short-term investments	—		151,816		—		151,816
Prepaid expenses and other	—		13,785		—		13,785
Long-term investments	—		91,715		—		91,715
Other long-term assets	11,799		—		—		11,799
Total assets measured at fair value	$	1,050,590	$	257,316	$	—	$	1,307,906
Liabilities:
Accrued liabilities and other short-term obligations	$	—	$	285	$	—	$	285
Other long-term obligations	—		22,794		—		22,794
Total liabilities measured at fair value	$	—	$	23,079	$	—	$	23,079

	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.