FAIR VALUE MEASUREMENTS

9 Months Ended

Jul. 30, 2022

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS    As of each date indicated, the following table summarizes the assets and liabilities that are recorded at fair value on a recurring basis (in thousands):

	July 30, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	531,686	$	—	$	—	$	531,686
Bond mutual fund	70,717		—		—		70,717
Time deposits	121,888		—		—		121,888
Deferred compensation plan assets	13,184		—		—		13,184
U.S. government obligations	—		358,725		—		358,725
Corporate debt securities	—		33,874		—		33,874
Foreign currency forward contracts	—		3,024		—		3,024
Forward starting interest rate swaps	—		759		—		759
Total assets measured at fair value	$	737,475	$	396,382	$	—	$	1,133,857
Liabilities:
Foreign currency forward contracts	$	—	$	3,399	$	—	$	3,399
Forward starting interest rate swaps	—		4,337		—		4,337
Total liabilities measured at fair value	$	—	$	7,736	$	—	$	7,736

	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	71,226		—		—		71,226
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	$	1,280,470	$	266,456	$	—	$	1,546,926
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 each date indicated, the assets and liabilities above are presented on Ciena’s Condensed Consolidated Balance Sheets as follows (in thousands):

	July 30, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	717,344	$	—	$	—	$	717,344
Short-term investments	6,947		314,876		—		321,823
Prepaid expenses and other	—		3,024		—		3,024
Long-term investments	—		77,723		—		77,723
Other long-term assets	13,184		759		—		13,943
Total assets measured at fair value	$	737,475	$	396,382	$	—	$	1,133,857
Liabilities:
Accrued liabilities and other short-term obligations	$	—	$	3,399	$	—	$	3,399
Other long-term obligations	—		4,337		—		4,337
Total liabilities measured at fair value	$	—	$	7,736	$	—	$	7,736

	October 30, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	1,267,502	$	—	$	—	$	1,267,502
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	$	1,280,470	$	266,456	$	—	$	1,546,926
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.