FAIR VALUE MEASUREMENTS

3 Months Ended

Jan. 29, 2022

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 29, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	711,027	$	—	$	—	$	711,027
Bond mutual fund	100,456		—		—		100,456
Time deposits	30,046		—		—		30,046
Deferred compensation plan assets	13,847		—		—		13,847
U.S. government obligations	—		648,981		—		648,981
Foreign currency forward contracts	—		6,885		—		6,885
Total assets measured at fair value	$	855,376	$	655,866	$	—	$	1,511,242
Liabilities:
Foreign currency forward contracts	$	—	$	3,012	$	—	$	3,012
Forward starting interest rate swaps	—		10,784		—		10,784
Total liabilities measured at fair value	$	—	$	13,796	$	—	$	13,796

	October 30, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	1,120,851	$	—	$	—	$	1,120,851
Bond mutual fund	75,425		—		—		75,425
Time deposits	30,036		—		—		30,036
Deferred compensation plan assets	12,968		—		—		12,968
U.S. government obligations	—		251,521		—		251,521
Foreign currency forward contracts	—		14,935		—		14,935
Total assets measured at fair value	$	1,239,280	$	266,456	$	—	$	1,505,736
Liabilities:
Foreign currency forward contracts	$	—	$	716	$	—	$	716
Forward starting interest rate swaps	—		15,928		—		15,928
Total liabilities measured at fair value	$	—	$	16,644	$	—	$	16,644

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

	January 29, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	841,529	$	99,973	$	—	$	941,502
Short-term investments	—		460,368		—		460,368
Prepaid expenses and other	—		6,885		—		6,885
Long-term investments	—		88,640		—		88,640
Other long-term assets	13,847		—		—		13,847
Total assets measured at fair value	$	855,376	$	655,866	$	—	$	1,511,242
Liabilities:
Accrued liabilities and other short-term obligations	$	—	$	3,012	$	—	$	3,012
Other long-term obligations	—		10,784		—		10,784
Total liabilities measured at fair value	$	—	$	13,796	$	—	$	13,796

	October 30, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	1,226,312	$	—	$	—	$	1,226,312
Short-term investments	—		181,483		—		181,483
Prepaid expenses and other	—		14,935		—		14,935
Long-term investments	—		70,038		—		70,038
Other long-term assets	12,968		—		—		12,968
Total assets measured at fair value	$	1,239,280	$	266,456	$	—	$	1,505,736
Liabilities:
Accrued liabilities and other short-term obligations	$	—	$	716	$	—	$	716
Other long-term obligations	—		15,928		—		15,928
Total liabilities measured at fair value	$	—	$	16,644	$	—	$	16,644

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