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INTEREST AND OTHER INCOME (LOSS), NET
 12 Months Ended
Oct. 30, 2021
Other Income and Expenses [Abstract]  
INTEREST AND OTHER INCOME (LOSS), NET INTEREST AND OTHER INCOME (LOSS), NET
The components of interest and other income (loss), net, were as follows (in thousands):
Year Ended
October 30, 2021October 31, 2020November 2, 2019
Interest income$2,051 $6,860 $14,410 
Gain on non-hedge designated foreign currency forward contracts11,172 5,551 3 
Foreign currency exchange losses(14,622)(13,022)(9,800)
Other(369)1,575 (737)
Interest and other income (loss), net$(1,768)$964 $3,876 

Ciena Corporation, as the U.S. parent entity, uses the U.S. Dollar as its functional currency; however, some of its foreign branch offices and subsidiaries use the local currency as their functional currency. During fiscal 2021, 2020 and 2019, Ciena recorded $14.6 million, $13.0 million and $9.8 million, respectively, in exchange rate losses, as a result of monetary assets and liabilities that were transacted in a currency other than the entity’s functional currency, and the related remeasurement adjustments were recorded in interest and other income (loss), net. From time to time, Ciena uses foreign currency forwards to hedge certain of these balance sheet exposures. These forwards are not designated as hedges for accounting purposes, and any net gain or loss associated with these derivatives is also reported in interest and other income (loss), net. During fiscal 2019,
Ciena recorded minimal gains from non-hedge designated foreign currency forward contracts. For fiscal 2021 and fiscal 2020, Ciena recorded gains of $11.2 million and $5.6 million, respectively, from non-hedge designated foreign currency forward contracts.