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SHARE-BASED COMPENSATION EXPENSE (Tables) | 12 Months Ended
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Oct. 28, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity | The following table is a summary of Ciena’s stock option activity for the periods indicated (shares in thousands):
| Shares Underlying Options Outstanding |  | Weighted Average Exercise Price
Balance at October 29, 2022 | 32 |  |  | $ | 30.98 |
Granted | — |  |  | — |
Exercised | (22) |  |  | $ | 33.98 |
Canceled | (3) |  |  | $ | 45.32 |
Balance at October 28, 2023 | 7 |  |  | $ | 16.94 |
Schedule of Information with Respect to Stock Options Outstanding | The following table summarizes information with respect to stock options outstanding at October 28, 2023, based on Ciena’s closing stock price on the last trading day of Ciena’s fiscal 2023 (shares and intrinsic value in thousands):
|  |  |  |  |  | Options Outstanding and Vested at |  |
|  |  |  |  |  | October 28, 2023 |  |
|  |  |  |  |  | Number |  | Weighted Average Remaining |  | Weighted |  |  |  |  |  |  |  |  |  |
Range of |  | of |  | Contractual |  | Average |  | Aggregate |  |  |  |  |  |  |  |
Exercise |  | Underlying |  | Life |  | Exercise |  | Intrinsic |  |  |  |  |  |  |  |
Price |  | Shares |  | (Years) |  | Price |  | Value |  |  |  |  |  |  |  |
$ | 14.38 |  |  | — |  |  | $ | 18.22 |  |  | 7 |  |  | 0.36 |  | $ | 16.94 |  |  | $ | 178 |  |  |  |  |  |  |  |  |
Schedule of Assumptions for Awards Granted | Assumptions for awards granted during fiscal 2023, fiscal 2022 and fiscal 2021 included the following:
| Year Ended
| October 28, 2023 |  | October 29, 2022 |  | October 30, 2021
Expected volatility of Ciena common stock, which is a weighted average of implied volatility and historical volatility | 40.37% |  | 38.27% |  | 41.00%
Historical volatility of Ciena common stock | 43.11% |  | 42.17% |  | 42.80%
Historical volatility of S&P Networking Index | 30.93% |  | 27.22% |  | 27.30%
Correlation coefficient | 0.7781 |  | 0.7049 |  | 0.6800
Expected life in years | 2.89 |  | 2.89 |  | 2.87
Risk-free interest rate | 3.95% |  | 0.94% |  | 0.17%
Expected dividend yield | 0.0% |  | 0.0% |  | 0.0%
Schedule of Restricted Stock Unit Activity | The following table is a summary of Ciena’s restricted stock unit activity for the period indicated, with the aggregate fair value of the balance outstanding at the end of each period, based on Ciena’s closing stock price on the last trading day of the relevant period (shares and aggregate fair value in thousands):
| Restricted Stock Units Outstanding |  | Weighted Average Grant Date Fair Value Per Share |  | Aggregate Fair Value
Balance at October 29, 2022 | 4,103 |  |  | $ | 55.16 |  |  | $ | 197,960 |
Granted | 3,301 |  |  |  |  |
Vested | (2,067) |  |  |  |  |
Canceled or forfeited | (415) |  |  |  |  |
Balance at October 28, 2023 | 4,922 |  |  | $ | 53.42 |  |  | $ | 201,916 |
Schedule of Share-based Compensation Expense | The following table summarizes share-based compensation expense for the periods indicated (in thousands):
| Year Ended
| October 28, 2023 |  | October 29, 2022 |  | October 30, 2021
Products | $ | 4,518 |  |  | $ | 3,867 |  |  | $ | 3,408 |
Services | 10,470 |  |  | 7,533 |  |  | 5,181 |
Share-based compensation expense included in cost of goods sold | 14,988 |  |  | 11,400 |  |  | 8,589 |
Research and development | 42,331 |  |  | 31,879 |  |  | 21,863 |
Sales and marketing | 35,136 |  |  | 31,280 |  |  | 25,152 |
General and administrative | 37,587 |  |  | 30,435 |  |  | 28,804 |
Share-based compensation expense included in operating expense | 115,054 |  |  | 93,594 |  |  | 75,819 |
Share-based compensation expense capitalized in inventory, net | 413 |  |  | 137 |  |  | (72) |
Total share-based compensation | $ | 130,455 |  |  | $ | 105,131 |  |  | $ | 84,336 |

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