FAIR VALUE MEASUREMENTS

6 Months Ended

Apr. 30, 2022

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

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

	April 30, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	607,553	$	—	$	—	$	607,553
Bond mutual fund	100,428		—		—		100,428
Time deposits	133,544		—		—		133,544
Deferred compensation plan assets	13,274		—		—		13,274
U.S. government obligations	—		616,694		—		616,694
Foreign currency forward contracts	—		5,867		—		5,867
Total assets measured at fair value	$	854,799	$	622,561	$	—	$	1,477,360
Liabilities:
Foreign currency forward contracts	$	—	$	5,281	$	—	$	5,281
Forward starting interest rate swaps	—		1,465		—		1,465
Total liabilities measured at fair value	$	—	$	6,746	$	—	$	6,746

	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	30,036		—		—		30,036
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	$	1,239,280	$	266,456	$	—	$	1,505,736
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 the date indicated, the assets and liabilities above are presented on Ciena’s Condensed Consolidated Balance Sheets as follows (in thousands):

	April 30, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	841,525	$	—	$	—	$	841,525
Short-term investments	—		529,552		—		529,552
Prepaid expenses and other	—		5,867		—		5,867
Long-term investments	—		87,142		—		87,142
Other long-term assets	13,274		—		—		13,274
Total assets measured at fair value	$	854,799	$	622,561	$	—	$	1,477,360
Liabilities:
Accrued liabilities and other short-term obligations	$	—	$	5,281	$	—	$	5,281
Other long-term obligations	—		1,465		—		1,465
Total liabilities measured at fair value	$	—	$	6,746	$	—	$	6,746

	October 30, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	1,226,312	$	—	$	—	$	1,226,312
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	$	1,239,280	$	266,456	$	—	$	1,505,736
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.