Schedule of the Fair Value of Assets and Liabilities Recorded on a Recurring Basis |
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 1 | | Level 2 | | Level 3 | | Total | Assets: | | | | | | | | Money market funds | $ | 531,686 | | | $ | — | | | $ | — | | | $ | 531,686 | | Bond mutual fund | 70,717 | | | — | | | — | | | 70,717 | | Time deposits | 121,888 | | | — | | | — | | | 121,888 | | Deferred compensation plan assets | 13,184 | | | — | | | — | | | 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 1 | | Level 2 | | Level 3 | | Total | Assets: | | | | | | | | Money market funds | $ | 1,120,851 | | | $ | — | | | $ | — | | | $ | 1,120,851 | | Bond mutual fund | 75,425 | | | — | | | — | | | 75,425 | | Time deposits | 71,226 | | | — | | | — | | | 71,226 | | Deferred compensation plan assets | 12,968 | | | — | | | — | | | 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 | |
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Schedule of Assets and Liabilities as Presented on Ciena's Condensed Consolidated Balance Sheets |
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 1 | | Level 2 | | Level 3 | | Total | Assets: | | | | | | | | Cash equivalents | $ | 717,344 | | | $ | — | | | $ | — | | | $ | 717,344 | | Short-term investments | 6,947 | | | 314,876 | | | — | | | 321,823 | | Prepaid expenses and other | — | | | 3,024 | | | — | | | 3,024 | | Long-term investments | — | | | 77,723 | | | — | | | 77,723 | | Other long-term assets | 13,184 | | | 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 1 | | Level 2 | | Level 3 | | Total | 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 assets | 12,968 | | | — | | | — | | | 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 | |
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