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Interest and Other Income (Loss), Net | 6 Months Ended
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May 01, 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, are as follows (in thousands):
| Quarter Ended |  | Six Months Ended
| May 1, |  | May 2, |  | May 1, |  | May 2,
| 2021 |  | 2020 |  | 2021 |  | 2020
Interest income | $ | 554 |  |  | $ | 2,023 |  |  | $ | 1,088 |  |  | $ | 5,413 |
Gains on non-hedge designated foreign currency forward contracts | 5,180 |  |  | 1,086 |  |  | 9,709 |  |  | 1,723 |
Foreign currency exchange losses | (6,575) |  |  | (4,067) |  |  | (13,493) |  |  | (4,839) |
Other | (433) |  |  | (1,707) |  |  | 301 |  |  | (1,316) |
Interest and other income (loss), net | $ | (1,274) |  |  | $ | (2,665) |  |  | $ | (2,395) |  |  | $ | 981 |
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 local currencies as their functional currencies. Ciena recorded $13.5 million and $4.8 million in foreign currency exchange rate losses during the first six months of fiscal 2021 and 2020, respectively, as a result of monetary assets and liabilities that were transacted in a currency other than Ciena’s functional currency. The related remeasurement adjustments were recorded in interest and other income (loss), net, on the Condensed Consolidated Statements of Operations. From time to time, Ciena uses foreign currency forwards to hedge this type of balance sheet exposure. These forwards are not designated as hedges for accounting purposes, and any net gain or loss associated with these derivatives is reported in interest and other income (loss), net, on the Condensed Consolidated Statements of Operations. During the first six months of fiscal 2021 and 2020, respectively, Ciena recorded gains of $9.7 million and $1.7 million from non-hedge designated foreign currency forward contracts.

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- Definition The entire disclosure for the components of non-operating income or non-operating expense, including, but not limited to, amounts earned from dividends, interest on securities, gain (loss) on securities sold, equity earnings of unconsolidated affiliates, gain (loss) on sales of business, interest expense and other miscellaneous income or expense items. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(7)) -URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(9)) -URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227 + Details
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