FAIR VALUE MEASUREMENTS

6 Months Ended

Apr. 27, 2024

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):

	April 27, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	700,930	$	—	$	—	$	700,930
Bond mutual fund	158,297		—		—		158,297
Time deposits	164,208		—		—		164,208
Deferred compensation plan assets	14,479		—		—		14,479
U.S. government obligations	—		260,374		—		260,374
Corporate debt securities	—		59,620		—		59,620
Foreign currency forward contracts	—		1,341		—		1,341
Interest rate swaps	—		30,296		—		30,296
Total assets measured at fair value	$	1,037,914	$	351,631	$	—	$	1,389,545
Liabilities:
Foreign currency forward contracts	$	—	$	6,173	$	—	$	6,173
Total liabilities measured at fair value	$	—	$	6,173	$	—	$	6,173

	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

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

	April 27, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	1,007,962	$	3,887	$	—	$	1,011,849
Short-term investments	15,473		150,147		—		165,620
Prepaid expenses and other	—		1,341		—		1,341
Long-term investments	—		165,960		—		165,960
Other long-term assets	14,479		30,296		—		44,775
Total assets measured at fair value	$	1,037,914	$	351,631	$	—	$	1,389,545
Liabilities:
Accrued liabilities and other short-term obligations	$	—	$	6,173	$	—	$	6,173
Total liabilities measured at fair value	$	—	$	6,173	$	—	$	6,173

	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

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