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FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended
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Jan. 28, 2023
Fair Value Disclosures [Abstract] |
Schedule of the Fair Value of Assets and Liabilities Recorded on a Recurring Basis | As of the dates indicated, the following tables summarize the assets and liabilities that are recorded at fair value on a recurring basis (in thousands):
| January 28, 2023
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Money market funds | $ | 706,940 |  |  | $ | — |  |  | $ | — |  |  | $ | 706,940 |
Bond mutual fund | 100,152 |  |  | — |  |  | — |  |  | 100,152 |
Time deposits | 41,022 |  |  | — |  |  | — |  |  | 41,022 |
Deferred compensation plan assets | 14,330 |  |  | — |  |  | — |  |  | 14,330 |
U.S. government obligations | — |  |  | 87,316 |  |  | — |  |  | 87,316 |
Corporate debt securities | — |  |  | 16,350 |  |  | — |  |  | 16,350 |
Foreign currency forward contracts | — |  |  | 2,985 |  |  | — |  |  | 2,985 |
Forward starting interest rate swaps | — |  |  | 7,923 |  |  | — |  |  | 7,923 |
Total assets measured at fair value | $ | 862,444 |  |  | $ | 114,574 |  |  | $ | — |  |  | $ | 977,018 |
Liabilities: |  |  |  |  |  |  |
Foreign currency forward contracts | $ | — |  |  | $ | 8,191 |  |  | $ | — |  |  | $ | 8,191 |
Forward starting interest rate swaps | — |  |  | 2,181 |  |  | — |  |  | 2,181 |
Total liabilities measured at fair value | $ | — |  |  | $ | 10,372 |  |  | $ | — |  |  | $ | 10,372 |
| October 29, 2022
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Money market funds | $ | 639,024 |  |  | $ | — |  |  | $ | — |  |  | $ | 639,024 |
Bond mutual fund | 71,145 |  |  | — |  |  | — |  |  | 71,145 |
Time deposits | 55,825 |  |  | — |  |  | — |  |  | 55,825 |
Deferred compensation plan assets | 12,751 |  |  | — |  |  | — |  |  | 12,751 |
U.S. government obligations | — |  |  | 134,584 |  |  | — |  |  | 134,584 |
Corporate debt securities | — |  |  | 54,495 |  |  | — |  |  | 54,495 |
Foreign currency forward contracts | — |  |  | 251 |  |  | — |  |  | 251 |
Forward starting interest rate swaps | — |  |  | 12,306 |  |  | — |  |  | 12,306 |
Total assets measured at fair value | $ | 778,745 |  |  | $ | 201,636 |  |  | $ | — |  |  | $ | 980,381 |
Liabilities: |  |  |  |  |  |  |
Foreign currency forward contracts | $ | — |  |  | $ | 15,605 |  |  | $ | — |  |  | $ | 15,605 |
Total liabilities measured at fair value | $ | — |  |  | $ | 15,605 |  |  | $ | — |  |  | $ | 15,605 |
Schedule of Assets and Liabilities as Presented on Ciena's Condensed Consolidated Balance Sheets | As of the dates indicated, the assets and liabilities above are presented on Ciena’s Condensed Consolidated Balance Sheets as follows (in thousands):
| January 28, 2023
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Cash equivalents | $ | 848,114 |  |  | $ | — |  |  | $ | — |  |  | $ | 848,114 |
Short-term investments | — |  |  | 100,424 |  |  | — |  |  | 100,424 |
Prepaid expenses and other | — |  |  | 2,985 |  |  | — |  |  | 2,985 |
Long-term investments | — |  |  | 3,242 |  |  | — |  |  | 3,242 |
Other long-term assets | 14,330 |  |  | 7,923 |  |  | — |  |  | 22,253 |
Total assets measured at fair value | $ | 862,444 |  |  | $ | 114,574 |  |  | $ | — |  |  | $ | 977,018 |
Liabilities: |  |  |  |  |  |  |
Accrued liabilities and other short-term obligations | $ | — |  |  | $ | 8,191 |  |  | $ | — |  |  | $ | 8,191 |
Other long-term obligations | — |  |  | 2,181 |  |  | — |  |  | 2,181 |
Total liabilities measured at fair value | $ | — |  |  | $ | 10,372 |  |  | $ | — |  |  | $ | 10,372 |
| October 29, 2022
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Cash equivalents | $ | 757,725 |  |  | $ | 7,974 |  |  | $ | — |  |  | $ | 765,699 |
Short-term investments | 8,269 |  |  | 145,720 |  |  | — |  |  | 153,989 |
Prepaid expenses and other | — |  |  | 251 |  |  | — |  |  | 251 |
Long-term investments | — |  |  | 35,385 |  |  | — |  |  | 35,385 |
Other long-term assets | 12,751 |  |  | 12,306 |  |  | — |  |  | 25,057 |
Total assets measured at fair value | $ | 778,745 |  |  | $ | 201,636 |  |  | $ | — |  |  | $ | 980,381 |
Liabilities: |  |  |  |  |  |  |
Accrued liabilities and other short-term obligations | $ | — |  |  | $ | 15,605 |  |  | $ | — |  |  | $ | 15,605 |
Total liabilities measured at fair value | $ | — |  |  | $ | 15,605 |  |  | $ | — |  |  | $ | 15,605 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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