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Redeemable Non-controlling Interest | 6 Months Ended
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Apr. 30, 2023
Noncontrolling Interest [Abstract] |
Redeemable Non-controlling Interest | Redeemable Non-controlling Interest During the second quarter of fiscal 2022, we acquired 75% equity interest in OpenLight Photonics, Inc. (OpenLight) for cash consideration of $90.0 million. The remaining 25% equity interest in OpenLight is held by Juniper Networks, Inc. (the Minority Investor) from their contribution of IP and certain tangible assets. The agreement with the Minority Investor contains redemption features whereby the interest held by the Minority Investor is redeemable either (1) at the option of the Minority Investor on or after the third anniversary of the acquisition or sooner in certain circumstances or (2) at our option beginning on the third anniversary of the acquisition. This option is exercisable at the greater of fair value at the time of redemption or $30.0 million and was valued at $10.1 million, resulting in a total consideration of $100.1 million. During the second quarter of fiscal 2023, our ownership interest in OpenLight was reduced to 73% as a result of a recognition of non-controlling interest upon issuance of OpenLight stock. During the six months ended April 30, 2023, OpenLight incurred a net loss of $21.0 million, of which $5.2 million was attributable to redeemable non-controlling interest. Other adjustments to redeemable non-controlling interest were not material during this period. As of April 30, 2023, the carrying value of the redeemable non-controlling interest was recorded at its estimated fair value of $35.9 million in the condensed consolidated balance sheets.

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- Definition The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -URI https://asc.fasb.org/topic&trid=2197479 + Details
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- References No definition available. + Details
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