v3.22.2.2
FAIR VALUE MEASUREMENTS
 9 Months Ended
Jul. 30, 2022
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS    As of each date indicated, the following table summarizes the assets and liabilities that are recorded at fair value on a recurring basis (in thousands):
 July 30, 2022
 Level 1Level 2Level 3Total
Assets:    
Money market funds$531,686 $— $— $531,686 
Bond mutual fund70,717 — — 70,717 
Time deposits121,888 — — 121,888 
Deferred compensation plan assets13,184 — — 13,184 
U.S. government obligations— 358,725 — 358,725 
Corporate debt securities— 33,874 — 33,874 
Foreign currency forward contracts— 3,024 — 3,024 
Forward starting interest rate swaps— 759 — 759 
Total assets measured at fair value$737,475 $396,382 $— $1,133,857 
Liabilities:
Foreign currency forward contracts$— $3,399 $— $3,399 
Forward starting interest rate swaps— 4,337 — 4,337 
Total liabilities measured at fair value$— $7,736 $— $7,736 

October 30, 2021
Level 1Level 2Level 3Total
Assets:
Money market funds$1,120,851 $— $— $1,120,851 
Bond mutual fund75,425 — — 75,425 
Time deposits71,226 — — 71,226 
Deferred compensation plan assets12,968 — — 12,968 
U.S. government obligations— 251,521 — 251,521 
Foreign currency forward contracts— 14,935 — 14,935 
Total assets measured at fair value$1,280,470 $266,456 $— $1,546,926 
Liabilities:
Foreign currency forward contracts$— $716 $— $716 
Forward starting interest rate swaps— 15,928 — 15,928 
Total liabilities measured at fair value$— $16,644 $— $16,644 

As of each date indicated, the assets and liabilities above are presented on Ciena’s Condensed Consolidated Balance Sheets as follows (in thousands):
 July 30, 2022
 Level 1Level 2Level 3Total
Assets:    
Cash equivalents$717,344 $— $— $717,344 
Short-term investments6,947 314,876 — 321,823 
Prepaid expenses and other— 3,024 — 3,024 
Long-term investments— 77,723 — 77,723 
Other long-term assets13,184 759 — 13,943 
Total assets measured at fair value$737,475 $396,382 $— $1,133,857 
Liabilities:
Accrued liabilities and other short-term obligations$— $3,399 $— $3,399 
Other long-term obligations— 4,337 — 4,337 
Total liabilities measured at fair value$— $7,736 $— $7,736 
 October 30, 2021
 Level 1Level 2Level 3Total
Assets:    
Cash equivalents$1,267,502 $— $— $1,267,502 
Short-term investments— 181,483 — 181,483 
Prepaid expenses and other— 14,935 — 14,935 
Long-term investments— 70,038 — 70,038 
Other long-term assets12,968 — — 12,968 
Total assets measured at fair value$1,280,470 $266,456 $— $1,546,926 
Liabilities:
Accrued liabilities and other short-term obligations$— $716 $— $716 
Other long-term obligations— 15,928 — 15,928 
Total liabilities measured at fair value$— $16,644 $— $16,644 

Ciena did not have any transfers between Level 1 and Level 2 fair value measurements during the periods presented.