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INTEREST AND OTHER INCOME (LOSS), NET | 9 Months Ended
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Jul. 30, 2022
Other Income and Expenses [Abstract] |
INTEREST AND OTHER INCOME (LOSS), NET | INTEREST AND OTHER INCOME (LOSS), NETThe components of interest and other income (loss), net, are as follows for the periods indicated (in thousands):
| Quarter Ended | Nine Months Ended |
| July 30 |  | July 31 | July 30 |  | July 31 |
| 2022 |  | 2021 | 2022 |  | 2021 |
Interest income | $ | 2,774 |  |  | $ | 465 |  | $ | 4,962 |  |  | $ | 1,553 |  |
Gains (losses) on non-hedge designated foreign currency forward contracts | (985) |  |  | (4,414) |  | (2,911) |  |  | 5,295 |  |
Foreign currency exchange gains (losses) | (788) |  |  | 4,959 |  | 2,711 |  |  | (8,534) |  |
Unrealized gain on cost method equity investment | — |  |  | — |  | 4,120 |  |  | — |  |
Other | (635) |  |  | (215) |  | (4,022) |  |  | 86 |  |
Interest and other income (loss), net | $ | 366 |  |  | $ | 795 |  | $ | 4,860 |  |  | $ | (1,600) |  |
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 $2.7 million in foreign currency exchange rate gains for the first nine months of fiscal 2022 and during the first nine months of fiscal 2021, Ciena recorded $8.5 million in foreign currency exchange rate losses, both a s 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 nine months of fiscal 2022, Ciena recorded losses of $2.9 million and during the first nine months of fiscal 2021, Ciena recorded gains of $5.3 million from non-hedge designated foreign currency forward contracts. During the first nine months of fiscal 2022, Ciena recorded an unrealized gain of $4.1 million on its cost method equity investment.

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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 https://asc.fasb.org/extlink&oid=126953954&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 https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 + Details
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