FAIR VALUE MEASUREMENTS

9 Months Ended

Jul. 29, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS    As of the dates indicated, the following tables summarize the assets and liabilities that are recorded at fair value on a recurring basis (in thousands):

	July 29, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	767,668	$	—	$	—	$	767,668
Bond mutual fund	102,715		—		—		102,715
Time deposits	80,843		—		—		80,843
Deferred compensation plan assets	12,203		—		—		12,203
U.S. government obligations	—		93,740		—		93,740
Corporate debt securities	—		63,248		—		63,248
Foreign currency forward contracts	—		2,574		—		2,574
Interest rate swaps	—		19,528		—		19,528
Total assets measured at fair value	$	963,429	$	179,090	$	—	$	1,142,519
Liabilities:
Foreign currency forward contracts	$	—	$	4,691	$	—	$	4,691
Interest rate swaps	—		32		—		32
Total liabilities measured at fair value	$	—	$	4,723	$	—	$	4,723

	October 29, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	639,024	$	—	$	—	$	639,024
Bond mutual fund	71,145		—		—		71,145
Time deposits	55,825		—		—		55,825
Deferred compensation plan assets	12,751		—		—		12,751
U.S. government obligations	—		134,584		—		134,584
Corporate debt securities	—		54,495		—		54,495
Foreign currency forward contracts	—		251		—		251
Interest rate swaps	—		12,306		—		12,306
Total assets measured at fair value	$	778,745	$	201,636	$	—	$	980,381
Liabilities:
Foreign currency forward contracts	$	—	$	15,605	$	—	$	15,605
Total liabilities measured at fair value	$	—	$	15,605	$	—	$	15,605

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

	July 29, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	944,714	$	559	$	—	$	945,273
Short-term investments	6,512		135,331		—		141,843
Prepaid expenses and other	—		2,574		—		2,574
Long-term investments	—		21,098		—		21,098
Other long-term assets	12,203		19,528		—		31,731
Total assets measured at fair value	$	963,429	$	179,090	$	—	$	1,142,519
Liabilities:
Accrued liabilities and other short-term obligations	$	—	$	4,691	$	—	$	4,691
Other long-term obligations	—		32		—		32
Total liabilities measured at fair value	$	—	$	4,723	$	—	$	4,723

	October 29, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	757,725	$	7,974	$	—	$	765,699
Short-term investments	8,269		145,720		—		153,989
Prepaid expenses and other	—		251		—		251
Long-term investments	—		35,385		—		35,385
Other long-term assets	12,751		12,306		—		25,057
Total assets measured at fair value	$	778,745	$	201,636	$	—	$	980,381
Liabilities:
Accrued liabilities and other short-term obligations	$	—	$	15,605	$	—	$	15,605
Total liabilities measured at fair value	$	—	$	15,605	$	—	$	15,605

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