ACCOUNTS RECEIVABLE

12 Months Ended

Oct. 28, 2023

As of October 28, 2023, two customers accounted for 11.0% and 10.0% of net accounts receivable, respectively. As of October 29, 2022, two customers accounted for 13.0% and 11.0% of net accounts receivable, respectively. Ciena has not historically experienced a significant amount of bad debt expense. The following table summarizes the activity in Ciena’s allowance for credit losses for the fiscal years indicated (in thousands):


Year Ended	Beginning Balance		Effect of adoption of new accounting standard		Provisions		Net Deductions		Ending Balance
October 30, 2021	$	10,598	$	2,206	$	2,346	$	4,238	$	10,912
October 29, 2022(1)	$	10,912	$	—	$	4,199	$	4,153	$	10,958
October 28, 2023	$	10,958	$	—	$	5,718	$	5,022	$	11,654

(1) On March 7, 2022, Ciena announced its decision to suspend its business operations in Russia immediately. As a result, Ciena’s allowance for doubtful accounts includes a provision for a significant asset impairment of $1.8 million for a trade receivable related to this decision.

Accounts Receivable Factoring

During fiscal 2023 and 2022, the gross amount of trade accounts receivables sold totaled approximately $60.3 million and $11.8 million, respectively. Prior to the start of fiscal 2022, Ciena had not entered into any factoring arrangements. Factoring related expense recorded to interest and other income (loss), net was $3.1 million and $0.6 million for fiscal 2023 and fiscal 2022, respectively.