FAIR VALUE MEASUREMENTS

12 Months Ended

Oct. 28, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

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

	October 28, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	661,101	$	—	$	—	$	661,101
Bond mutual fund	104,171		—		—		104,171
Time deposits	138,829		—		—		138,829
Deferred compensation plan assets	11,456		—		—		11,456
U.S. government obligations	—		169,909		—		169,909
Corporate debt securities	—		59,569		—		59,569
Foreign currency forward contracts	—		1,119		—		1,119
Interest rate swaps	—		24,953		—		24,953
Total assets measured at fair value	$	915,557	$	255,550	$	—	$	1,171,107
Liabilities:
Foreign currency forward contracts	$	—	$	14,509	$	—	$	14,509
Total liabilities measured at fair value	$	—	$	14,509	$	—	$	14,509

	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
Commercial paper	—		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 were presented on Ciena’s Consolidated Balance Sheets as follows (in thousands):

	October 28, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	891,788	$	2,760	$	—	$	894,548
Short-term investments	12,313		92,440		—		104,753
Prepaid expenses and other	—		1,119		—		1,119
Long-term investments	—		134,278		—		134,278
Other long-term assets	11,456		24,953		—		36,409
Total assets measured at fair value	$	915,557	$	255,550	$	—	$	1,171,107
Liabilities:
Accrued liabilities and other short-term obligations	$	—	$	14,509	$	—	$	14,509
Total liabilities measured at fair value	$	—	$	14,509	$	—	$	14,509

	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.