0000936395-24-000032 | 10-Q | XBRL Viewer

SEGMENTS AND ENTITY-WIDE DISCLOSURES (Tables)

9 Months Ended

Jul. 27, 2024

Schedule of Reconciliation of Assets From Segment to Consolidated

As of July 27, 2024, finite-lived intangible assets, goodwill, and maintenance spares are assigned to asset groups within the following segments (in thousands):


	July 27, 2024
	Networking Platforms		Platform Software and Services	Blue Planet Automation Software and Services	Global Services	Total
Other intangible assets, net	$	166,067	—	8,907	—	$	174,974
Goodwill	$	199,551	156,191	89,049	—	$	444,791
Maintenance spares, net	$	—	—	—	68,100	$	68,100

Schedule of Segment Profit (Loss) and the Reconciliation to Consolidated Net Income (Loss)

The table below sets forth Ciena’s segment profit (loss) and the reconciliation to net income for the periods indicated (in thousands):


	Quarter Ended				Nine Months Ended
	July 27,		July 29,		July 27,		July 29,
	2024		2023		2024		2023
Segment profit (loss):
Networking Platforms	$	106,870	$	171,380	$	387,211	$	588,281
Platform Software and Services	53,131		49,691		165,171		136,028
Blue Planet Automation Software and Services	4,705		(12,072)		(10,127)		(30,044)
Global Services	50,351		50,550		145,776		137,190
Total segment profit	215,057		259,549		688,031		831,455
Less: Non-performance operating expenses
Selling and marketing	121,520		118,266		373,749		367,156
General and administrative	58,248		49,349		162,504		151,184
Significant asset impairments and restructuring costs	1,361		4,174		21,987		16,625
Amortization of intangible assets	7,185		9,487		22,384		26,773
Acquisition and integration costs	—		59		—		3,474
Add: Other non-performance financial items
Interest and other income, net	14,013		10,187		36,460		50,711
Interest expense	(24,401)		(24,060)		(72,038)		(63,819)
Less: Provision for income taxes	2,125		34,608		24,901		89,507
Net income	$	14,230	$	29,733	$	46,928	$	163,628

Schedule of Ciena's Geographic Distribution of Revenue and Long-Lived Assets

For the periods indicated, Ciena’s geographic distribution of equipment, building, furniture and fixtures, net, and operating ROU assets was as follows (in thousands):


	July 27, 2024		October 28, 2023
Canada	$	248,024	$	229,707
United States	46,781		46,933
Other International	33,073		38,647
Total	$	327,878	$	315,287

SHARE-BASED COMPENSATION EXPENSE

9 Months Ended

Jul. 27, 2024

Share-Based Payment Arrangement [Abstract]

SHARE-BASED COMPENSATION EXPENSE

At Ciena’s 2024 Annual Meeting of Stockholders on March 21, 2024, Ciena’s stockholders approved an amendment to the Ciena Corporation 2017 Omnibus Incentive Plan (the “2017 Plan”), effective as of such date, to (i) increase the number of shares available for issuance thereunder by 10.1 million shares, and (ii) increase the recoupment period for misconduct relating to accounting restatements from 12 months to three years. As of July 27, 2024, the total number of shares authorized for issuance under the 2017 Plan is 31.2 million and approximately 10.9 million shares remained available for issuance thereunder.

The following table summarizes share-based compensation expense for the periods indicated (in thousands):


	Quarter Ended				Nine Months Ended
	July 27,		July 29,		July 27,		July 29,
	2024		2023		2024		2023
Products	$	1,660	$	1,118	$	4,738	$	3,324
Services	3,122		2,687		9,486		7,643
Share-based compensation expense included in cost of goods sold	4,782		3,805		14,224		10,967
Research and development	13,118		10,954		40,064		30,919
Selling and marketing	10,315		8,770		31,786		25,949
General and administrative	9,257		9,377		29,211		27,313

Share-based compensation expense included in operating expense	32,690		29,101		101,061		84,181
Share-based compensation expense capitalized in inventory, net	(114)		127		148		257
Total share-based compensation expense	$	37,358	$	33,033	$	115,433	$	95,405

As of July 27, 2024, total unrecognized share-based compensation expense was approximately $251.9 million, which relates to unvested stock unit awards and is expected to be recognized over a weighted-average period of 1.4 years.

FAIR VALUE MEASUREMENTS

9 Months Ended

Jul. 27, 2024

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

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):


	July 27, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	427,818	$	—	$	—	$	427,818
Bond mutual fund	160,513		—		—		160,513
Time deposits	96,134		—		—		96,134
Deferred compensation plan assets	15,590		—		—		15,590
U.S. government obligations	—		261,010		—		261,010
Corporate debt securities	—		57,836		—		57,836
Foreign currency forward contracts	—		1,232		—		1,232
Interest rate swaps	—		12,316		—		12,316

Total assets measured at fair value	$	700,055	$	332,394	$	—	$	1,032,449

Liabilities:
Foreign currency forward contracts	$	—	$	7,271	$	—	$	7,271


Total liabilities measured at fair value	$	—	$	7,271	$	—	$	7,271


	October 28, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	661,101	$	—	$	—	$	661,101
Bond mutual fund	104,171		—		—		104,171
Time deposits	138,829		—		—		138,829
Deferred compensation plan assets	11,456		—		—		11,456
U.S. government obligations	—		169,909		—		169,909
Corporate debt securities	—		59,569		—		59,569
Foreign currency forward contracts	—		1,119		—		1,119
Interest rate swaps	—		24,953		—		24,953

Total assets measured at fair value	$	915,557	$	255,550	$	—	$	1,171,107

Liabilities:
Foreign currency forward contracts	$	—	$	14,509	$	—	$	14,509


Total liabilities measured at fair value	$	—	$	14,509	$	—	$	14,509

As of the dates indicated, the assets and liabilities above are presented on Ciena’s Condensed Consolidated Balance Sheets as follows (in thousands):


	July 27, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	669,655	$	4,013	$	—	$	673,668
Short-term investments	14,810		203,000		—		217,810
Prepaid expenses and other	—		1,232		—		1,232
Long-term investments	—		111,833		—		111,833
Other long-term assets	15,590		12,316		—		27,906
Total assets measured at fair value	$	700,055	$	332,394	$	—	$	1,032,449

Liabilities:
Accrued liabilities and other short-term obligations	$	—	$	7,271	$	—	$	7,271

Total liabilities measured at fair value	$	—	$	7,271	$	—	$	7,271


	October 28, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	891,788	$	2,760	$	—	$	894,548
Short-term investments	12,313		92,440		—		104,753
Prepaid expenses and other	—		1,119		—		1,119
Long-term investments	—		134,278		—		134,278
Other long-term assets	11,456		24,953		—		36,409
Total assets measured at fair value	$	915,557	$	255,550	$	—	$	1,171,107

Liabilities:
Accrued liabilities and other short-term obligations	$	—	$	14,509	$	—	$	14,509


Total liabilities measured at fair value	$	—	$	14,509	$	—	$	14,509

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

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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+ Details

REVENUE - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
REVENUE - Narrative (Details) - USD ($) $ in Thousands	Jul. 27, 2024	Jul. 29, 2023	Jul. 27, 2024	Jul. 29, 2023	Oct. 28, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 942,308	$ 1,067,886	$ 2,890,843	$ 3,257,062
Revenue recognized that was previously deferred			130,500	119,800
Capitalized contract acquisition costs	25,500		25,500		$ 30,200
Amortization of capitalized contract acquisition costs			22,900	26,000
Remaining performance obligation	$ 1,600,000		$ 1,600,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-28
Disaggregation of Revenue [Line Items]
Percentage of remaining performance obligation	78.00%		78.00%
Period of remaining performance obligation	12 months		12 months
United States
Disaggregation of Revenue [Line Items]
Total revenue	$ 676,000	$ 685,800	$ 2,000,000	$ 2,100,000

STOCKHOLDERS’ EQUITY (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	9 Months Ended
	Jul. 27, 2024	Jul. 29, 2023	Dec. 09, 2021
Equity [Abstract]
Stock repurchase program authorized amount			$ 1,000,000
Repurchase of common stock under the stock repurchase program (in shares)	2.4
Repurchase of common stock under the stock repurchase program (in shares)	$ 118,000
Repurchase of common stock under the stock repurchase program (in dollars per share)	$ 48.86
Aggregate shares repurchased (in shares)	16.5
Aggregate shares repurchased	$ 868,000
Aggregate average price of shares repurchased (in dollars per share)	$ 52.54
Authorized funds remaining under stock repurchase program	$ 132,000
Shares repurchased for tax withholdings on vesting of restricted stock units	$ 33,450	$ 29,794

INTEREST AND OTHER INCOME, NET

9 Months Ended

Jul. 27, 2024

Other Income and Expenses [Abstract]

INTEREST AND OTHER INCOME, NET

The components of interest and other income, net, are as follows for the periods indicated (in thousands):


	Quarter Ended				Nine Months Ended
	July 27,		July 29,		July 27,		July 29,
	2024		2023		2024		2023
Interest income	$	15,876	$	12,835	$	46,309	$	30,365

Gains (losses) on non-hedge designated foreign currency forward contracts	519		1,679		2,517		(2,885)
Foreign currency exchange losses	(1,611)		(4,031)		(11,215)		(2,927)

Gain (loss) on equity investments, net	—		(87)		—		26,368
Other	(771)		(209)		(1,151)		(210)
Interest and other income, net	$	14,013	$	10,187	$	36,460	$	50,711

During the first quarter of fiscal 2023, the acquisition of Tibit Communications, Inc. (“Tibit”) by Ciena triggered the remeasurement of Ciena’s previously held investment in Tibit to fair value, which resulted in Ciena recognizing a gain on its equity investment of $26.5 million.

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. During the first nine months of fiscal 2024 and fiscal 2023, Ciena recorded $11.2 million and $2.9 million, respectively, in foreign currency exchange rate losses as 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, 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, net, on the Condensed Consolidated Statements of Operations. During the first nine months of fiscal 2024, Ciena recorded gains of $2.5 million from non-hedge designated foreign currency forward contracts. During the first nine months of fiscal 2023, Ciena recorded losses of $2.9 million from non-hedge designated foreign currency forward contracts.

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jul. 27, 2024	Oct. 28, 2023
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 9.2	$ 11.7
Stockholders’ equity:
Preferred stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	290,000,000	290,000,000
Common stock, shares outstanding (in shares)	144,426,873	144,829,938
Common stock, shares issued (in shares)	144,426,873	144,829,938

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 27, 2024	Jul. 29, 2023	Jul. 27, 2024	Jul. 29, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 942,308	$ 1,067,886	$ 2,890,843	$ 3,257,062
Products and services at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	739,750	877,258	2,297,613	2,715,544
Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	202,558	190,628	593,230	541,518
Networking Platforms
Disaggregation of Revenue [Line Items]
Total revenue	699,537	846,560	2,183,030	2,616,558
Networking Platforms \| Products and services at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	699,537	846,560	2,183,030	2,616,558
Networking Platforms \| Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Platform Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	83,212	78,880	258,402	221,768
Platform Software and Services \| Products and services at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	18,766	15,980	69,149	48,290
Platform Software and Services \| Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	64,446	62,900	189,253	173,478
Blue Planet Automation Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	25,791	13,167	54,167	49,139
Blue Planet Automation Software and Services \| Products and services at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	11,614	2,832	15,530	14,143
Blue Planet Automation Software and Services \| Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	14,177	10,335	38,637	34,996
Global Services
Disaggregation of Revenue [Line Items]
Total revenue	133,768	129,279	395,244	369,597
Global Services \| Products and services at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	9,833	11,886	29,904	36,553
Global Services \| Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	123,935	117,393	365,340	333,044
Optical Networking
Disaggregation of Revenue [Line Items]
Total revenue	606,845	718,997	1,862,917	2,239,180
Optical Networking \| Networking Platforms
Disaggregation of Revenue [Line Items]
Total revenue	606,845	718,997	1,862,917	2,239,180
Optical Networking \| Platform Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Optical Networking \| Blue Planet Automation Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Optical Networking \| Global Services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Routing and Switching
Disaggregation of Revenue [Line Items]
Total revenue	92,692	127,563	320,113	377,378
Routing and Switching \| Networking Platforms
Disaggregation of Revenue [Line Items]
Total revenue	92,692	127,563	320,113	377,378
Routing and Switching \| Platform Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Routing and Switching \| Blue Planet Automation Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Routing and Switching \| Global Services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Platform Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	83,212	78,880	258,402	221,768
Platform Software and Services \| Networking Platforms
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Platform Software and Services \| Platform Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	83,212	78,880	258,402	221,768
Platform Software and Services \| Blue Planet Automation Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Platform Software and Services \| Global Services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Blue Planet Automation Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	25,791	13,167	54,167	49,139
Blue Planet Automation Software and Services \| Networking Platforms
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Blue Planet Automation Software and Services \| Platform Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Blue Planet Automation Software and Services \| Blue Planet Automation Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	25,791	13,167	54,167	49,139
Blue Planet Automation Software and Services \| Global Services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Maintenance Support and Training
Disaggregation of Revenue [Line Items]
Total revenue	74,344	72,887	225,869	213,938
Maintenance Support and Training \| Networking Platforms
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Maintenance Support and Training \| Platform Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Maintenance Support and Training \| Blue Planet Automation Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Maintenance Support and Training \| Global Services
Disaggregation of Revenue [Line Items]
Total revenue	74,344	72,887	225,869	213,938
Installation and Deployment
Disaggregation of Revenue [Line Items]
Total revenue	46,484	46,840	132,993	120,901
Installation and Deployment \| Networking Platforms
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Installation and Deployment \| Platform Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Installation and Deployment \| Blue Planet Automation Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Installation and Deployment \| Global Services
Disaggregation of Revenue [Line Items]
Total revenue	46,484	46,840	132,993	120,901
Consulting and Network Design
Disaggregation of Revenue [Line Items]
Total revenue	12,940	9,552	36,382	34,758
Consulting and Network Design \| Networking Platforms
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Consulting and Network Design \| Platform Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Consulting and Network Design \| Blue Planet Automation Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Consulting and Network Design \| Global Services
Disaggregation of Revenue [Line Items]
Total revenue	$ 12,940	$ 9,552	$ 36,382	$ 34,758

DERIVATIVE INSTRUMENTS	9 Months Ended
DERIVATIVE INSTRUMENTS	Jul. 27, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	DERIVATIVE INSTRUMENTS Foreign Currency Derivatives Ciena conducts business globally in numerous currencies, and thus is exposed to adverse foreign currency exchange rate changes. To hedge this exposure, Ciena enters into foreign currency contracts. Ciena does not enter into such contracts for speculative purposes. As of July 27, 2024 and October 28, 2023, Ciena had forward contracts to hedge its foreign exchange exposure in order to reduce variability in certain currencies for expenses principally related to research and development activities. The notional amount of these contracts was approximately $286.2 million and $367.3 million as of July 27, 2024 and October 28, 2023, respectively. These foreign exchange contracts have maturities of 24 months or less and have been designated as cash flow hedges. As of July 27, 2024 and October 28, 2023, Ciena had forward contracts designated as net investment hedges to minimize the effect of foreign exchange rate movements on its net investments in foreign operations. In April 2024, Ciena terminated a portion of its existing net investment hedges for a cash loss of $0.6 million, which was recorded to Other Comprehensive Income (Loss). Ciena replaced its terminated net investment hedges with new net investment hedges. The notional amount of these contracts was approximately $65.7 million and $48.0 million as of July 27, 2024 and October 28, 2023, respectively. These foreign exchange contracts have maturities of 36 months or less and have been designated as net investment hedges. As of July 27, 2024 and October 28, 2023, Ciena had forward contracts in place to hedge its foreign exchange exposure in order to reduce the variability in various currencies of certain balance sheet items. The notional amount of these contracts was approximately $142.6 million and $226.3 million as of July 27, 2024 and October 28, 2023, respectively. These foreign exchange contracts have maturities of 12 months or less and have not been designated as hedges for accounting purposes. Interest Rate Derivatives Ciena is exposed to floating rates of interest on its term loan borrowings (see Note 13 below) and has hedged such risk by entering into floating-to-fixed interest rate swap arrangements. In April 2022, Ciena entered into forward starting interest rate swaps to fix the Secured Overnight Financing Rate (“SOFR”) for the first $350.0 million of its floating rate debt at 2.968% from September 2023 through September 2025 (“2025 interest rate swaps”). The total notional amount of the 2025 interest swaps was $350.0 million as of July 27, 2024 and October 28, 2023. In January 2023, Ciena entered into interest rate swaps to fix SOFR for an additional $350.0 million of its floating rate debt at 3.47% through January 2028. The total notional amount of these interest rate swaps in effect as of July 27, 2024 and October 28, 2023 was $350.0 million. In December 2023, Ciena entered into forward starting interest rate swaps to fix SOFR for an additional $350.0 million of its floating rate debt at 3.287% from September 2025 through December 2028 (“2028 forward starting interest rate swaps”). The total notional amount of the 2028 forward starting interest rate swaps effective September 2025 was $350.0 million as of July 27, 2024. Ciena expects the variable rate payments to be received under the terms of these interest rate swaps to offset exactly the forecasted variable rate payments on the equivalent notional amount of the 2030 New Term Loan (as defined in Note 13 below). These derivative contracts have been designated as cash flow hedges. Other information regarding Ciena’s derivatives is immaterial for separate financial statement presentation. See Note 5 and Note 8 above.

PREPAID EXPENSES AND OTHER

9 Months Ended

Jul. 27, 2024

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

PREPAID EXPENSES AND OTHER

As of the dates indicated, prepaid expenses and other are comprised of the following (in thousands):


	July 27, 2024		October 28, 2023
Cash advances to contract manufacturers(1)	$	182,886	$	—
Contract assets for unbilled accounts receivable, net	142,769		150,312
Prepaid VAT and other taxes	112,997		96,724
Prepaid expenses	53,950		58,954
Product demonstration equipment, net(2)	43,854		40,682
Other non-trade receivables	42,482		33,408
Capitalized contract acquisition costs	18,033		23,326
Deferred deployment expense	1,805		1,170
Foreign currency forward contracts	1,232		1,118
	$	600,008	$	405,694

(1) Amount reflects refundable cash advances to a third-party contract manufacturer for potential future inventory purchases and transition and logistic costs for future asset relocation. Ciena has initiated a strategic reengineering and realignment of its supply chain, including changes to its systems, processes, partners and people, and this cash advance assists in facilitating such activities.

(2) Depreciation of product demonstration equipment was $6.1 million during the first nine months of fiscal 2024 and $5.9 million during the first nine months of fiscal 2023.

For further discussion on contract assets and capitalized contract acquisition costs, see Note 3 above.

FAIR VALUE MEASUREMENTS - Fair Value Measurements (Details) - USD ($) $ in Thousands	Jul. 27, 2024	Oct. 28, 2023
Assets:
Debt securities available for sale	$ 414,980	$ 368,307
Corporate debt securities
Assets:
Debt securities available for sale	57,836	59,569
Fair value, Measurements, Recurring
Assets:
Deferred compensation plan assets	15,590	11,456
Total assets measured at fair value	1,032,449	1,171,107
Liabilities:
Total liabilities measured at fair value	7,271	14,509
Fair value, Measurements, Recurring \| Foreign Currency Forward Contracts
Assets:
Derivative assets	1,232	1,119
Liabilities:
Derivative liability	7,271	14,509
Fair value, Measurements, Recurring \| Interest rate swaps
Assets:
Derivative assets	12,316	24,953
Fair value, Measurements, Recurring \| Bond mutual fund
Assets:
Debt securities available for sale	160,513	104,171
Fair value, Measurements, Recurring \| U.S. government obligations
Assets:
Debt securities available for sale	261,010	169,909
Fair value, Measurements, Recurring \| Corporate debt securities
Assets:
Debt securities available for sale	57,836	59,569
Level 1 \| Fair value, Measurements, Recurring
Assets:
Deferred compensation plan assets	15,590	11,456
Total assets measured at fair value	700,055	915,557
Liabilities:
Total liabilities measured at fair value	0	0
Level 1 \| Fair value, Measurements, Recurring \| Foreign Currency Forward Contracts
Assets:
Derivative assets	0	0
Liabilities:
Derivative liability	0	0
Level 1 \| Fair value, Measurements, Recurring \| Interest rate swaps
Assets:
Derivative assets	0	0
Level 1 \| Fair value, Measurements, Recurring \| Bond mutual fund
Assets:
Debt securities available for sale	160,513	104,171
Level 1 \| Fair value, Measurements, Recurring \| U.S. government obligations
Assets:
Debt securities available for sale	0	0
Level 1 \| Fair value, Measurements, Recurring \| Corporate debt securities
Assets:
Debt securities available for sale	0	0
Level 2 \| Fair value, Measurements, Recurring
Assets:
Deferred compensation plan assets	0	0
Total assets measured at fair value	332,394	255,550
Liabilities:
Total liabilities measured at fair value	7,271	14,509
Level 2 \| Fair value, Measurements, Recurring \| Foreign Currency Forward Contracts
Assets:
Derivative assets	1,232	1,119
Liabilities:
Derivative liability	7,271	14,509
Level 2 \| Fair value, Measurements, Recurring \| Interest rate swaps
Assets:
Derivative assets	12,316	24,953
Level 2 \| Fair value, Measurements, Recurring \| Bond mutual fund
Assets:
Debt securities available for sale	0	0
Level 2 \| Fair value, Measurements, Recurring \| U.S. government obligations
Assets:
Debt securities available for sale	261,010	169,909
Level 2 \| Fair value, Measurements, Recurring \| Corporate debt securities
Assets:
Debt securities available for sale	57,836	59,569
Level 3 \| Fair value, Measurements, Recurring
Assets:
Deferred compensation plan assets	0	0
Total assets measured at fair value	0	0
Liabilities:
Total liabilities measured at fair value	0	0
Level 3 \| Fair value, Measurements, Recurring \| Foreign Currency Forward Contracts
Assets:
Derivative assets	0	0
Liabilities:
Derivative liability	0	0
Level 3 \| Fair value, Measurements, Recurring \| Interest rate swaps
Assets:
Derivative assets	0	0
Level 3 \| Fair value, Measurements, Recurring \| Bond mutual fund
Assets:
Debt securities available for sale	0	0
Level 3 \| Fair value, Measurements, Recurring \| U.S. government obligations
Assets:
Debt securities available for sale	0	0
Level 3 \| Fair value, Measurements, Recurring \| Corporate debt securities
Assets:
Debt securities available for sale	0	0
Money market funds \| Fair value, Measurements, Recurring
Assets:
Cash equivalents	427,818	661,101
Money market funds \| Level 1 \| Fair value, Measurements, Recurring
Assets:
Cash equivalents	427,818	661,101
Money market funds \| Level 2 \| Fair value, Measurements, Recurring
Assets:
Cash equivalents	0	0
Money market funds \| Level 3 \| Fair value, Measurements, Recurring
Assets:
Cash equivalents	0	0
Time deposits \| Fair value, Measurements, Recurring
Assets:
Cash equivalents	96,134	138,829
Time deposits \| Level 1 \| Fair value, Measurements, Recurring
Assets:
Cash equivalents	96,134	138,829
Time deposits \| Level 2 \| Fair value, Measurements, Recurring
Assets:
Cash equivalents	0	0
Time deposits \| Level 3 \| Fair value, Measurements, Recurring
Assets:
Cash equivalents	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Condensed Consolidated Balance Sheet (Details) - Fair value, Measurements, Recurring - USD ($) $ in Thousands	Jul. 27, 2024	Oct. 28, 2023
Assets:
Total assets measured at fair value	$ 1,032,449	$ 1,171,107
Liabilities:
Total liabilities measured at fair value	7,271	14,509
Level 1
Assets:
Total assets measured at fair value	700,055	915,557
Liabilities:
Total liabilities measured at fair value	0	0
Level 2
Assets:
Total assets measured at fair value	332,394	255,550
Liabilities:
Total liabilities measured at fair value	7,271	14,509
Level 3
Assets:
Total assets measured at fair value	0	0
Liabilities:
Total liabilities measured at fair value	0	0
Cash equivalents
Assets:
Cash equivalents	673,668	894,548
Cash equivalents \| Level 1
Assets:
Cash equivalents	669,655	891,788
Cash equivalents \| Level 2
Assets:
Cash equivalents	4,013	2,760
Cash equivalents \| Level 3
Assets:
Cash equivalents	0	0
Short-term investments
Assets:
Short-term investments	217,810	104,753
Short-term investments \| Level 1
Assets:
Short-term investments	14,810	12,313
Short-term investments \| Level 2
Assets:
Short-term investments	203,000	92,440
Short-term investments \| Level 3
Assets:
Short-term investments	0	0
Prepaid expenses and other
Assets:
Other assets	1,232	1,119
Prepaid expenses and other \| Level 1
Assets:
Other assets	0	0
Prepaid expenses and other \| Level 2
Assets:
Other assets	1,232	1,119
Prepaid expenses and other \| Level 3
Assets:
Other assets	0	0
Long-term investments
Assets:
Long-term investments	111,833	134,278
Long-term investments \| Level 1
Assets:
Long-term investments	0	0
Long-term investments \| Level 2
Assets:
Long-term investments	111,833	134,278
Long-term investments \| Level 3
Assets:
Long-term investments	0	0
Other long-term assets
Assets:
Other assets	27,906	36,409
Other long-term assets \| Level 1
Assets:
Other assets	15,590	11,456
Other long-term assets \| Level 2
Assets:
Other assets	12,316	24,953
Other long-term assets \| Level 3
Assets:
Other assets	0	0
Accrued liabilities and other short-term obligations
Liabilities:
Accrued liabilities and other short-term obligations	7,271	14,509
Accrued liabilities and other short-term obligations \| Level 1
Liabilities:
Accrued liabilities and other short-term obligations	0	0
Accrued liabilities and other short-term obligations \| Level 2
Liabilities:
Accrued liabilities and other short-term obligations	7,271	14,509
Accrued liabilities and other short-term obligations \| Level 3
Liabilities:
Accrued liabilities and other short-term obligations	$ 0	$ 0

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

9 Months Ended

Jul. 27, 2024

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income

The following table summarizes the changes in accumulated balances of other comprehensive income (“AOCI”), net of tax, for the nine months ended July 27, 2024 (in thousands):


	Unrealized Gain (Loss) on
	Available-for-sale Securities		Foreign Currency Forward Contracts		Interest Rate Swaps		Cumulative Translation Adjustment		Total
Balance at October 28, 2023	$	(372)	$	(8,156)	$	18,962	$	(48,201)	$	(37,767)
Other comprehensive gain (loss) before reclassifications	493		(112)		1,728		2,961		5,070
Amounts reclassified from AOCI	—		3,848		(11,343)		—		(7,495)
Balance at July 27, 2024	$	121	$	(4,420)	$	9,347	$	(45,240)	$	(40,192)

The following table summarizes the changes in AOCI, net of tax, for the nine months ended July 29, 2023 (in thousands):


	Unrealized Gain (Loss) on
	Available-for-sale Securities		Foreign Currency Forward Contracts		Interest Rate Swaps		Cumulative Translation Adjustment		Total
Balance at October 29, 2022	$	(2,965)	$	(10,197)	$	9,397	$	(42,880)	$	(46,645)
Other comprehensive gain before reclassifications	2,075		17,070		11,763		17,981		48,889
Amounts reclassified from AOCI	—		(7,756)		(6,266)		—		(14,022)
Balance at July 29, 2023	$	(890)	$	(883)	$	14,894	$	(24,899)	$	(11,778)

SHORT-TERM AND LONG-TERM DEBT - Narrative (Details) - USD ($) $ in Thousands			9 Months Ended
	Oct. 24, 2023	Jan. 19, 2023	Jul. 27, 2024	Jul. 29, 2023	Oct. 28, 2023	Jan. 18, 2022
Secured Debt
Debt Instrument [Line Items]
Repayments of debt	$ 1,200,000
2030 New Term Loan \| Secured Debt
Debt Instrument [Line Items]
Aggregate principal amount	1,200,000		$ 1,164,150
Installment payment	2,900
Annual payments	11,700
Amortization of debt issuance costs			700
Fair value of debt			1,200,000
2030 New Term Loan \| Senior Notes
Debt Instrument [Line Items]
Deferred debt issuance costs			5,800		$ 5,500
The Credit Facility \| Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 300,000
2025 Term Loan \| Secured Debt
Debt Instrument [Line Items]
Amortization of debt issuance costs				$ 500
2030 Term Loan
Debt Instrument [Line Items]
Amortization of debt issuance costs				400
Debt instrument, face amount		$ 500,000
Proceeds from issuance of debt		$ 492,300
2030 Notes
Debt Instrument [Line Items]
Deferred debt issuance costs			367,000
2030 Notes \| Secured Debt
Debt Instrument [Line Items]
Aggregate principal amount			400,000
2030 Notes \| Senior Notes
Debt Instrument [Line Items]
Deferred debt issuance costs			3,700		$ 4,300
Amortization of debt issuance costs			$ 500	$ 500
Debt instrument, face amount						$ 400,000
Debt instrument, interest rate, stated percentage						4.00%

SIGNIFICANT ASSET IMPAIRMENT AND RESTRUCTURING COSTS - Schedule of Restructuring Liabilities (Details) $ in Thousands	9 Months Ended
	Jul. 27, 2024 USD ($) employee	Jul. 29, 2023 USD ($)
Restructuring Reserve [Roll Forward]
Balance at beginning of period	$ 1,913	$ 5,835
Charges	21,987	16,625
Cash payments	(22,658)	(21,656)
Balance at end of period	1,242	804
Current restructuring liabilities	1,242	804
Workforce reduction
Restructuring Reserve [Roll Forward]
Balance at beginning of period	1,913	1,215
Charges	13,708	4,509
Cash payments	(14,379)	(4,920)
Balance at end of period	1,242	804
Current restructuring liabilities	$ 1,242	804
Number of employee reduction \| employee	390
Other restructuring activities
Restructuring Reserve [Roll Forward]
Balance at beginning of period	$ 0	4,620
Charges	8,279	12,116
Cash payments	(8,279)	(16,736)
Balance at end of period	0	0
Current restructuring liabilities	$ 0	$ 0

OTHER BALANCE SHEET DETAILS - Deferred Revenue (Details) - USD ($) $ in Thousands	Jul. 27, 2024	Oct. 28, 2023
Disaggregation of Revenue [Line Items]
Total deferred revenue	$ 257,085	$ 228,460
Less current portion	(179,457)	(154,419)
Long-term deferred revenue	77,628	74,041
Products
Disaggregation of Revenue [Line Items]
Total deferred revenue	20,081	28,353
Services
Disaggregation of Revenue [Line Items]
Total deferred revenue	$ 237,004	$ 200,107

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

REVENUE (Tables)

9 Months Ended

Jul. 27, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The tables below set forth Ciena’s disaggregated revenue for the periods indicated (in thousands):


	Quarter Ended July 27, 2024
	Networking Platforms		Platform Software and Services		Blue Planet Automation Software and Services		Global Services		Total
Product lines:
Optical Networking	$	606,845	$	—	$	—	$	—	$	606,845
Routing and Switching	92,692		—		—		—		92,692
Platform Software and Services	—		83,212		—		—		83,212
Blue Planet Automation Software and Services	—		—		25,791		—		25,791
Maintenance Support and Training	—		—		—		74,344		74,344
Installation and Deployment	—		—		—		46,484		46,484
Consulting and Network Design	—		—		—		12,940		12,940
Total revenue by product line	$	699,537	$	83,212	$	25,791	$	133,768	$	942,308

Timing of revenue recognition:
Products and services at a point in time	$	699,537	$	18,766	$	11,614	$	9,833	$	739,750
Services transferred over time	—		64,446		14,177		123,935		202,558
Total revenue by timing of revenue recognition	$	699,537	$	83,212	$	25,791	$	133,768	$	942,308


	Quarter Ended July 29, 2023
	Networking Platforms		Platform Software and Services		Blue Planet Automation Software and Services		Global Services		Total
Product lines:
Optical Networking	$	718,997	$	—	$	—	$	—	$	718,997
Routing and Switching	127,563		—		—		—		127,563
Platform Software and Services	—		78,880		—		—		78,880
Blue Planet Automation Software and Services	—		—		13,167		—		13,167
Maintenance Support and Training	—		—		—		72,887		72,887
Installation and Deployment	—		—		—		46,840		46,840
Consulting and Network Design	—		—		—		9,552		9,552
Total revenue by product line	$	846,560	$	78,880	$	13,167	$	129,279	$	1,067,886

Timing of revenue recognition:
Products and services at a point in time	$	846,560	$	15,980	$	2,832	$	11,886	$	877,258
Services transferred over time	—		62,900		10,335		117,393		190,628
Total revenue by timing of revenue recognition	$	846,560	$	78,880	$	13,167	$	129,279	$	1,067,886


	Nine Months Ended July 27, 2024
	Networking Platforms		Platform Software and Services		Blue Planet Automation Software and Services		Global Services		Total
Product lines:
Optical Networking	$	1,862,917	$	—	$	—	$	—	$	1,862,917
Routing and Switching	320,113		—		—		—		320,113
Platform Software and Services	—		258,402		—		—		258,402
Blue Planet Automation Software and Services	—		—		54,167		—		54,167
Maintenance Support and Training	—		—		—		225,869		225,869
Installation and Deployment	—		—		—		132,993		132,993
Consulting and Network Design	—		—		—		36,382		36,382
Total revenue by product line	$	2,183,030	$	258,402	$	54,167	$	395,244	$	2,890,843

Timing of revenue recognition:
Products and services at a point in time	$	2,183,030	$	69,149	$	15,530	$	29,904	$	2,297,613
Services transferred over time	—		189,253		38,637		365,340		593,230
Total revenue by timing of revenue recognition	$	2,183,030	$	258,402	$	54,167	$	395,244	$	2,890,843


	Nine months ended July 29, 2023
	Networking Platforms		Platform Software and Services		Blue Planet Automation Software and Services		Global Services		Total
Product lines:
Optical Networking	$	2,239,180	$	—	$	—	$	—	$	2,239,180
Routing and Switching	377,378		—		—		—		377,378
Platform Software and Services	—		221,768		—		—		221,768
Blue Planet Automation Software and Services	—		—		49,139		—		49,139
Maintenance Support and Training	—		—		—		213,938		213,938
Installation and Deployment	—		—		—		120,901		120,901
Consulting and Network Design	—		—		—		34,758		34,758
Total revenue by product line	$	2,616,558	$	221,768	$	49,139	$	369,597	$	3,257,062

Timing of revenue recognition:
Products and services at a point in time	$	2,616,558	$	48,290	$	14,143	$	36,553	$	2,715,544
Services transferred over time	—		173,478		34,996		333,044		541,518
Total revenue by timing of revenue recognition	$	2,616,558	$	221,768	$	49,139	$	369,597	$	3,257,062

For the periods indicated, Ciena’s geographic distribution of revenue was as follows (in thousands):


	Quarter Ended				Nine Months Ended
	July 27,		July 29,		July 27,		July 29,
	2024		2023		2024		2023
Geographic distribution:
Americas	$	718,605	$	749,479	$	2,099,680	$	2,308,934
EMEA	135,009		152,834		498,212		479,053
APAC	88,694		165,573		292,951		469,075
Total revenue by geographic distribution	$	942,308	$	1,067,886	$	2,890,843	$	3,257,062

For the periods indicated, the only customers that accounted for at least 10% of Ciena’s revenue were as follows (in thousands):


	Quarter Ended				Nine Months Ended
	July 27,		July 29,		July 27,		July 29,
	2024		2023		2024		2023
Cloud Provider	$	137,184	$	124,897	$	331,631	$	369,678
AT&T	113,082		n/a		324,787		357,382

Total	$	250,266	$	124,897	$	656,418	$	727,060

_____________________________________

n/a Denotes revenue representing less than 10% of total revenue for the period

Schedule of Contract Balances

The following table provides information about receivables, contract assets and contract liabilities (deferred revenue) from contracts with customers as of the dates indicated (in thousands):


	Balance at July 27, 2024		Balance at October 28, 2023
Accounts receivable, net	$	899,877	$	1,003,876
Contract assets for unbilled accounts receivable, net	$	142,769	$	150,312
Deferred revenue	$	257,085	$	228,460

As of the dates indicated, deferred revenue is comprised of the following (in thousands):


	July 27, 2024		October 28, 2023
Products	$	20,081	$	28,353
Services	237,004		200,107
Total deferred revenue	257,085		228,460
Less current portion	(179,457)		(154,419)
Long-term deferred revenue	$	77,628	$	74,041

CASH EQUIVALENT, SHORT-TERM AND LONG-TERM INVESTMENTS - Schedule of Short-term and Long-term Investments (Details) - USD ($) $ in Thousands	Jul. 27, 2024	Oct. 28, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 414,797	$ 368,773
Gross Unrealized Gains	321	33
Gross Unrealized Losses	(138)	(499)
Estimated Fair Value	414,980	368,307
Cash equivalents
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	85,337	129,276
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	85,337	129,276
Short-term investments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	217,761	105,042
Gross Unrealized Gains	158	4
Gross Unrealized Losses	(109)	(293)
Estimated Fair Value	217,810	104,753
Included in long-term investments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	111,699	134,455
Gross Unrealized Gains	163	29
Gross Unrealized Losses	(29)	(206)
Estimated Fair Value	111,833	134,278
U.S. government obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	260,879	170,260
Gross Unrealized Gains	250	28
Gross Unrealized Losses	(119)	(379)
Estimated Fair Value	261,010	169,909
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	57,791	59,683
Gross Unrealized Gains	64	1
Gross Unrealized Losses	(19)	(115)
Estimated Fair Value	57,836	59,569
Time deposits
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	96,127	138,830
Gross Unrealized Gains	7	4
Gross Unrealized Losses	0	(5)
Estimated Fair Value	$ 96,134	$ 138,829

OTHER BALANCE SHEET DETAILS (Tables)

9 Months Ended

Jul. 27, 2024

Balance Sheet Related Disclosures [Abstract]

Schedule of Other Long-term Assets

As of the dates indicated, other long-term assets are comprised of the following (in thousands):


	July 27, 2024		October 28, 2023
Maintenance spares inventory, net	$	68,100	$	54,042
Equity investments(1)	21,730		48
Deferred compensation plan assets	15,590		11,456
Forward starting interest rate swaps	12,316		24,953
Capitalized contract acquisition costs	7,423		6,879
Cloud computing arrangements(2)	6,946		8,589
Deferred debt issuance costs, net	1,806		1,956
Restricted cash	164		168

Other	11,438		8,362
	$	145,513	$	116,453

(1) Increase is due to an equity investment in a privately held technology company during fiscal 2024.

(2) Amortization of cloud computing arrangements was $3.4 million and $1.9 million during the first nine months of fiscal 2024 and fiscal 2023, respectively.

Schedule of Accrued Liabilities

As of the dates indicated, accrued liabilities and other short-term obligations are comprised of the following (in thousands):


	July 27, 2024		October 28, 2023
Compensation, payroll related tax and benefits	$	120,889	$	159,530
Warranty	49,933		57,089
Vacation	31,419		29,503
Interest payable	8,806		4,514
Foreign currency forward contracts	7,271		14,509
Income taxes payable	6,537		16,341
Finance lease liabilities	4,306		3,953

Other	118,077		145,980
	$	347,238	$	431,419

Schedule of Accrued Warranties

The following table summarizes the activity in Ciena’s accrued warranty for the periods indicated (in thousands):


	Beginning Balance		Current Period Provisions	Settlements	Ending Balance
Nine Months Ended July 29, 2023	$	45,503	18,860	(14,859)	$	49,504
Nine Months Ended July 27, 2024	$	57,089	14,708	(21,864)	$	49,933

Schedule of Contract Balances

The following table provides information about receivables, contract assets and contract liabilities (deferred revenue) from contracts with customers as of the dates indicated (in thousands):


	Balance at July 27, 2024		Balance at October 28, 2023
Accounts receivable, net	$	899,877	$	1,003,876
Contract assets for unbilled accounts receivable, net	$	142,769	$	150,312
Deferred revenue	$	257,085	$	228,460

As of the dates indicated, deferred revenue is comprised of the following (in thousands):


	July 27, 2024		October 28, 2023
Products	$	20,081	$	28,353
Services	237,004		200,107
Total deferred revenue	257,085		228,460
Less current portion	(179,457)		(154,419)
Long-term deferred revenue	$	77,628	$	74,041

REVENUE

9 Months Ended

Jul. 27, 2024

Revenue from Contract with Customer [Abstract]

REVENUE

Disaggregation of Revenue

Ciena’s disaggregated revenue as presented below depicts the nature, amount, and timing of revenue for similar groupings of Ciena’s products and services. The sales cycle, contractual obligations, customer requirements, and go-to-market strategies may differ across Ciena’s product lines, resulting in different economic risk profiles for each line.

The tables below set forth Ciena’s disaggregated revenue for the periods indicated (in thousands):


	Quarter Ended July 27, 2024
	Networking Platforms		Platform Software and Services		Blue Planet Automation Software and Services		Global Services		Total
Product lines:
Optical Networking	$	606,845	$	—	$	—	$	—	$	606,845
Routing and Switching	92,692		—		—		—		92,692
Platform Software and Services	—		83,212		—		—		83,212
Blue Planet Automation Software and Services	—		—		25,791		—		25,791
Maintenance Support and Training	—		—		—		74,344		74,344
Installation and Deployment	—		—		—		46,484		46,484
Consulting and Network Design	—		—		—		12,940		12,940
Total revenue by product line	$	699,537	$	83,212	$	25,791	$	133,768	$	942,308

Timing of revenue recognition:
Products and services at a point in time	$	699,537	$	18,766	$	11,614	$	9,833	$	739,750
Services transferred over time	—		64,446		14,177		123,935		202,558
Total revenue by timing of revenue recognition	$	699,537	$	83,212	$	25,791	$	133,768	$	942,308


	Quarter Ended July 29, 2023
	Networking Platforms		Platform Software and Services		Blue Planet Automation Software and Services		Global Services		Total
Product lines:
Optical Networking	$	718,997	$	—	$	—	$	—	$	718,997
Routing and Switching	127,563		—		—		—		127,563
Platform Software and Services	—		78,880		—		—		78,880
Blue Planet Automation Software and Services	—		—		13,167		—		13,167
Maintenance Support and Training	—		—		—		72,887		72,887
Installation and Deployment	—		—		—		46,840		46,840
Consulting and Network Design	—		—		—		9,552		9,552
Total revenue by product line	$	846,560	$	78,880	$	13,167	$	129,279	$	1,067,886

Timing of revenue recognition:
Products and services at a point in time	$	846,560	$	15,980	$	2,832	$	11,886	$	877,258
Services transferred over time	—		62,900		10,335		117,393		190,628
Total revenue by timing of revenue recognition	$	846,560	$	78,880	$	13,167	$	129,279	$	1,067,886


	Nine Months Ended July 27, 2024
	Networking Platforms		Platform Software and Services		Blue Planet Automation Software and Services		Global Services		Total
Product lines:
Optical Networking	$	1,862,917	$	—	$	—	$	—	$	1,862,917
Routing and Switching	320,113		—		—		—		320,113
Platform Software and Services	—		258,402		—		—		258,402
Blue Planet Automation Software and Services	—		—		54,167		—		54,167
Maintenance Support and Training	—		—		—		225,869		225,869
Installation and Deployment	—		—		—		132,993		132,993
Consulting and Network Design	—		—		—		36,382		36,382
Total revenue by product line	$	2,183,030	$	258,402	$	54,167	$	395,244	$	2,890,843

Timing of revenue recognition:
Products and services at a point in time	$	2,183,030	$	69,149	$	15,530	$	29,904	$	2,297,613
Services transferred over time	—		189,253		38,637		365,340		593,230
Total revenue by timing of revenue recognition	$	2,183,030	$	258,402	$	54,167	$	395,244	$	2,890,843


	Nine months ended July 29, 2023
	Networking Platforms		Platform Software and Services		Blue Planet Automation Software and Services		Global Services		Total
Product lines:
Optical Networking	$	2,239,180	$	—	$	—	$	—	$	2,239,180
Routing and Switching	377,378		—		—		—		377,378
Platform Software and Services	—		221,768		—		—		221,768
Blue Planet Automation Software and Services	—		—		49,139		—		49,139
Maintenance Support and Training	—		—		—		213,938		213,938
Installation and Deployment	—		—		—		120,901		120,901
Consulting and Network Design	—		—		—		34,758		34,758
Total revenue by product line	$	2,616,558	$	221,768	$	49,139	$	369,597	$	3,257,062

Timing of revenue recognition:
Products and services at a point in time	$	2,616,558	$	48,290	$	14,143	$	36,553	$	2,715,544
Services transferred over time	—		173,478		34,996		333,044		541,518
Total revenue by timing of revenue recognition	$	2,616,558	$	221,768	$	49,139	$	369,597	$	3,257,062

Ciena reports its sales geographically using the following markets: (i) the United States, Canada, the Caribbean and Latin America (“Americas”); (ii) Europe, Middle East and Africa (“EMEA”); and (iii) Asia Pacific, Japan and India (“APAC”). Within each geographic area, Ciena maintains specific teams or personnel that focus on a particular region, country, customer or market vertical. These teams include sales management, account salespersons, and sales engineers, as well as services professionals and commercial management personnel. The following table reflects Ciena’s geographic distribution of revenue based principally on the relevant location for Ciena’s delivery of products and performance of services.

For the periods indicated, Ciena’s geographic distribution of revenue was as follows (in thousands):


	Quarter Ended				Nine Months Ended
	July 27,		July 29,		July 27,		July 29,
	2024		2023		2024		2023
Geographic distribution:
Americas	$	718,605	$	749,479	$	2,099,680	$	2,308,934
EMEA	135,009		152,834		498,212		479,053
APAC	88,694		165,573		292,951		469,075
Total revenue by geographic distribution	$	942,308	$	1,067,886	$	2,890,843	$	3,257,062

Ciena’s revenue includes $676.0 million and $685.8 million of United States revenue for the third quarter of fiscal 2024 and 2023, respectively. For the nine months ended July 27, 2024 and July 29, 2023, United States revenue was $2.0 billion and $2.1 billion, respectively. No other country accounted for 10% or more of total revenue for the periods indicated in the above table.

For the periods indicated, the only customers that accounted for at least 10% of Ciena’s revenue were as follows (in thousands):


	Quarter Ended				Nine Months Ended
	July 27,		July 29,		July 27,		July 29,
	2024		2023		2024		2023
Cloud Provider	$	137,184	$	124,897	$	331,631	$	369,678
AT&T	113,082		n/a		324,787		357,382

Total	$	250,266	$	124,897	$	656,418	$	727,060

_____________________________________

n/a Denotes revenue representing less than 10% of total revenue for the period

AT&T purchased products and services from each of Ciena’s operating segments for each of the periods presented. The cloud provider noted in the above table purchased products from each of Ciena’s operating segments excluding Blue Planet® Automation Software and Services for each of the periods presented.

A description of each of Ciena’s operating segments is set forth below:

•Networking Platforms revenue reflects sales of Ciena’s Optical Networking and Routing and Switching product lines.

•Optical Networking - includes the 6500 Packet-Optical Platform, the Waveserver® modular interconnect system, the 6500 Reconfigurable Line System (RLS), the 5400 family of Packet-Optical Platforms, and the Coherent ELS open line system. This product line also includes the WaveLogic 5 Nano (WL5n) 100G-400G coherent pluggable transceivers.

•Routing and Switching - includes the 3000 family of service delivery platforms and the 5000 family of service aggregation. This product line also includes the 6500 Packet Transport System (PTS), which combines packet switching, control plane operation, and integrated optics, the 8100 Coherent IP networking platforms, the 8700 Packetwave Platform, virtualization software and Ciena’s WaveRouter® product. This product line also includes SD-Edge software and passive optical network (PON) routing and switching portfolio products.

The Networking Platforms segment also includes sales of operating system software and enhanced software features embedded in each of the product lines above. Revenue from this segment is included in product revenue on the Condensed Consolidated Statements of Operations. Operating system software and enhanced software features embedded in Ciena hardware are each considered distinct performance obligations for which the revenue is generally recognized upfront at a point in time upon transfer of control.

•Platform Software and Services offerings provide domain control management, analytics, data and planning tools and applications to assist customers in managing their networks, including by creating more efficient operations and providing more visibility into their networks. Ciena’s platform software includes its Navigator Network Control SuiteTM (“Navigator NCS”) domain controller solution, its suite of Navigator NCS applications, previously referred to as “Manage, Control and Plan (MCP),” its OneControl Unified Management System, and planning tools and legacy software solutions that support Ciena’s installed base of network solutions. Platform software-related services revenue includes sales of subscription, installation, support, and consulting services related to Ciena’s software platforms, operating system software and enhanced software features embedded in each of the Networking Platforms product lines above. Revenue from the software portion of this segment is included in product revenue on the Condensed Consolidated Statements of Operations. Revenue from services portions of this segment is included in services revenue on the Condensed Consolidated Statements of Operations.

•Blue Planet Automation Software and Services is a comprehensive, cloud native, and standards-based software portfolio, together with related services, that enables customers to realize digital transformation through the automation of the services lifecycle. Ciena’s Blue Planet Automation Platform includes multi-domain service orchestration (MDSO), inventory management (BPI), route optimization and analysis (ROA), multi-cloud orchestration (MCO), and unified assurance and analytics (UAA). Services revenue includes sales of subscription, installation, support, consulting and design services related to Ciena’s Blue Planet Automation Platform. Revenue from the software portion of this segment is included in product revenue on the Condensed Consolidated Statements of Operations. Revenue from services portions of this segment is included in services revenue on the Condensed Consolidated Statements of Operations.

Ciena’s software platform revenue typically reflects either perpetual or term-based software licenses, and these sales are considered distinct performance obligations where revenue is generally recognized upfront at a point in time upon transfer of control. Revenue from software subscription and support is recognized ratably over the period during which the services are performed. Revenue from professional services for solution customization, software and solution support services, consulting and design, and build-operate-transfer services relating to Ciena’s software offerings is recognized over time with Ciena applying the input method to determine the amount of revenue to be recognized in a given period.

•Global Services revenue reflects sales of a broad range of Ciena’s services for maintenance support and training, installation and deployment, and consulting and network design activities. Revenue from this segment is included in services revenue on the Condensed Consolidated Statements of Operations. Ciena’s Global Services are considered a distinct performance obligation where revenue is generally recognized over time. Revenue from maintenance support is recognized ratably over the period during which the services are performed. Revenue from installation and deployment services and consulting and network design services is recognized over time with Ciena applying the input method to determine the amount of revenue to be recognized in a given period. Revenue from training services is generally recognized at a point in time upon completion of the service.

Contract Balances

The following table provides information about receivables, contract assets and contract liabilities (deferred revenue) from contracts with customers as of the dates indicated (in thousands):


	Balance at July 27, 2024		Balance at October 28, 2023
Accounts receivable, net	$	899,877	$	1,003,876
Contract assets for unbilled accounts receivable, net	$	142,769	$	150,312
Deferred revenue	$	257,085	$	228,460

Ciena’s contract assets represent unbilled accounts receivable, net where transfer of a product or service has occurred but invoicing is conditional upon completion of future performance obligations. These amounts are primarily related to installation and deployment and professional services arrangements where transfer of control has occurred, but Ciena has not yet invoiced the customer. Contract assets are included in prepaid expenses and other in the Condensed Consolidated Balance Sheets. See Note 10 below.

Deferred revenue represents contract liabilities and consists of advanced payments against non-cancelable customer orders received prior to revenue recognition. Ciena recognized approximately $130.5 million and $119.8 million of revenue during the first nine months of fiscal 2024 and 2023, respectively, that was included in the deferred revenue balance as of October 28, 2023 and October 29, 2022, respectively. Revenue recognized due to changes in transaction price from performance obligations satisfied or partially satisfied in previous periods was immaterial during the nine months ended July 27, 2024 and July 29, 2023.

Capitalized Contract Acquisition Costs

Capitalized contract acquisition costs consist of deferred sales commissions, and were $25.5 million and $30.2 million as of July 27, 2024 and October 28, 2023, respectively. Capitalized contract acquisition costs were included in (i) prepaid expenses and other, and (ii) other long-term assets. The amortization expense associated with these costs was $22.9 million and $26.0 million during the first nine months of fiscal 2024 and 2023, respectively, and was included in selling and marketing expense on the Condensed Consolidated Statements of Operations.

Remaining Performance Obligations

Remaining Performance Obligations (“RPO”) are comprised of non-cancelable customer purchase orders for products and services that are awaiting transfer of control for revenue recognition under the applicable contract terms. As of July 27, 2024, the aggregate amount of RPO was $1.6 billion. As of July 27, 2024, Ciena expects approximately 78% of the RPO balance to be recognized as revenue within the next 12 months.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

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+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jul. 27, 2024	Jul. 29, 2023	Jul. 27, 2024	Jul. 29, 2023
Pay vs Performance Disclosure
Net income	$ 14,230	$ 29,733	$ 46,928	$ 163,628

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

DERIVATIVE INSTRUMENTS (Details) - USD ($) $ in Millions	1 Months Ended	9 Months Ended
DERIVATIVE INSTRUMENTS (Details) - USD ($) $ in Millions	Apr. 27, 2024	Jul. 27, 2024	Dec. 31, 2023	Oct. 28, 2023	Jan. 31, 2023	Apr. 30, 2022
Unrealized gain (loss) on foreign currency forward contracts, net of tax \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative asset, notional amount		$ 142.6		$ 226.3
Derivative maturity (in months)		12 months
Unrealized gain (loss) on foreign currency forward contracts, net of tax \| Cash Flow Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative asset, notional amount		$ 286.2		367.3
Derivative maturity (in months)		24 months
Unrealized gain (loss) on foreign currency forward contracts, net of tax \| Net Investment Hedges \| Designated as Hedging Instrument \| INDIA
Derivative [Line Items]
Derivative asset, notional amount		$ 65.7		48.0
Derivative maturity (in months)		36 months
Net investment hedges for a cash loss	$ 0.6
Unrealized gain (loss) on interest rate swaps, net of tax \| Cash Flow Hedging \| Designated as Hedging Instrument \| 2025 Term Loan \| Secured Debt
Derivative [Line Items]
Derivative asset, notional amount		$ 350.0		350.0		$ 350.0
Derivative, fixed interest rate						2.968%
Unrealized gain (loss) on interest rate swaps, net of tax \| Cash Flow Hedging \| Designated as Hedging Instrument \| 2030 Term Loan \| Secured Debt
Derivative [Line Items]
Derivative asset, notional amount		350.0		$ 350.0	$ 350.0
Derivative, fixed interest rate					3.47%
Unrealized gain (loss) on interest rate swaps, net of tax \| Cash Flow Hedging \| Designated as Hedging Instrument \| 2030 New Term Loan \| Secured Debt
Derivative [Line Items]
Derivative asset, notional amount		$ 350.0	$ 350.0
Derivative, fixed interest rate			3.287%

EARNINGS PER SHARE CALCULATION (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 27, 2024	Jul. 29, 2023	Jul. 27, 2024	Jul. 29, 2023
Earnings Per Share [Abstract]
Net income	$ 14,230	$ 29,733	$ 46,928	$ 163,628
Basic weighted average shares outstanding (in shares)	144,394	149,690	144,876	149,472
Effect of dilutive potential common shares (in shares)	967	287	919	395
Dilutive weighted average shares (in shares)	145,361	149,977	145,795	149,867
Basic EPS (in dollars per share)	$ 0.10	$ 0.20	$ 0.32	$ 1.09
Diluted EPS (in dollars per share)	$ 0.10	$ 0.20	$ 0.32	$ 1.09
Antidilutive employee share-based awards, excluded (in shares)	690	3,383	1,286	2,567

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

INTEREST AND OTHER INCOME, NET (Tables)

9 Months Ended

Jul. 27, 2024

Other Income and Expenses [Abstract]

Schedule of Interest and Other Income, Net

The components of interest and other income, net, are as follows for the periods indicated (in thousands):


	Quarter Ended				Nine Months Ended
	July 27,		July 29,		July 27,		July 29,
	2024		2023		2024		2023
Interest income	$	15,876	$	12,835	$	46,309	$	30,365

Gains (losses) on non-hedge designated foreign currency forward contracts	519		1,679		2,517		(2,885)
Foreign currency exchange losses	(1,611)		(4,031)		(11,215)		(2,927)

Gain (loss) on equity investments, net	—		(87)		—		26,368
Other	(771)		(209)		(1,151)		(210)
Interest and other income, net	$	14,013	$	10,187	$	36,460	$	50,711

INTEREST AND OTHER INCOME, NET (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Jul. 27, 2024	Jul. 29, 2023	Jan. 28, 2023	Jul. 27, 2024	Jul. 29, 2023
Other Income and Expenses [Abstract]
Interest income	$ 15,876	$ 12,835		$ 46,309	$ 30,365
Gains (losses) on non-hedge designated foreign currency forward contracts	519	1,679		2,517	(2,885)
Foreign currency exchange losses	(1,611)	(4,031)		(11,215)	(2,927)
Gain (loss) on equity investments, net	0	(87)	$ 26,500	0	26,368
Other	(771)	(209)		(1,151)	(210)
Interest and other income, net	$ 14,013	$ 10,187		$ 36,460	$ 50,711

SHARE-BASED COMPENSATION EXPENSE - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Jul. 27, 2024	Mar. 21, 2024
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation	$ 251.9
Weighted-average period for recognition of share-based compensation (in years)	1 year 4 months 24 days
Two Thousand Seventeen Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	31,200,000	10,100,000
Number of shares available for issuance thereafter (in shares)	10,900,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

SHORT-TERM AND LONG-TERM DEBT (Tables)

9 Months Ended

Jul. 27, 2024

Debt Disclosure [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Convertible Notes

The net carrying value of the 2030 New Term Loan was comprised of the following as of the date indicated (in thousands):


	July 27, 2024								October 28, 2023
	Principal Balance		Unamortized Discount		Deferred Debt Issuance Costs		Net Carrying Value		Net Carrying Value
2030 New Term Loan	$	1,164,150	$	(4,560)	$	(5,830)	$	1,153,760	$	1,159,371

The net carrying value of the 2030 Notes was comprised of the following as of the dates indicated (in thousands):


	July 27, 2024						October 28, 2023
	Principal Balance		Deferred Debt Issuance Costs		Net Carrying Value		Net Carrying Value
2030 Notes	$	400,000	$	(3,745)	$	396,255	$	395,735

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 27, 2024	Jul. 29, 2023	Jul. 27, 2024	Jul. 29, 2023
Revenue:
Total revenue	$ 942,308	$ 1,067,886	$ 2,890,843	$ 3,257,062
Cost of goods sold:
Total cost of goods sold	538,363	618,945	1,631,275	1,864,492
Gross profit	403,945	448,941	1,259,568	1,392,570
Operating expenses:
Research and development	188,888	189,392	571,537	561,115
Selling and marketing	121,520	118,266	373,749	367,156
General and administrative	58,248	49,349	162,504	151,184
Significant asset impairments and restructuring costs	1,361	4,174	21,987	16,625
Amortization of intangible assets	7,185	9,487	22,384	26,773
Acquisition and integration costs	0	59	0	3,474
Total operating expenses	377,202	370,727	1,152,161	1,126,327
Income from operations	26,743	78,214	107,407	266,243
Interest and other income, net	14,013	10,187	36,460	50,711
Interest expense	(24,401)	(24,060)	(72,038)	(63,819)
Income before income taxes	16,355	64,341	71,829	253,135
Provision for income taxes	2,125	34,608	24,901	89,507
Net income	$ 14,230	$ 29,733	$ 46,928	$ 163,628
Basic net income per common share (in dollars per share)	$ 0.10	$ 0.20	$ 0.32	$ 1.09
Diluted net income per potential common share (in dollars per share)	$ 0.10	$ 0.20	$ 0.32	$ 1.09
Weighted average basic common shares outstanding (in shares)	144,394	149,690	144,876	149,472
Weighted average dilutive potential common shares outstanding (in shares)	145,361	149,977	145,795	149,867
Products
Revenue:
Total revenue	$ 729,503	$ 865,197	$ 2,266,596	$ 2,678,242
Cost of goods sold:
Total cost of goods sold	433,533	516,900	1,315,737	1,559,120
Services
Revenue:
Total revenue	212,805	202,689	624,247	578,820
Cost of goods sold:
Total cost of goods sold	$ 104,830	$ 102,045	$ 315,538	$ 305,372

PREPAID EXPENSES AND OTHER (Tables)

9 Months Ended

Jul. 27, 2024

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Prepaid Expenses and Other

As of the dates indicated, prepaid expenses and other are comprised of the following (in thousands):


	July 27, 2024		October 28, 2023
Cash advances to contract manufacturers(1)	$	182,886	$	—
Contract assets for unbilled accounts receivable, net	142,769		150,312
Prepaid VAT and other taxes	112,997		96,724
Prepaid expenses	53,950		58,954
Product demonstration equipment, net(2)	43,854		40,682
Other non-trade receivables	42,482		33,408
Capitalized contract acquisition costs	18,033		23,326
Deferred deployment expense	1,805		1,170
Foreign currency forward contracts	1,232		1,118
	$	600,008	$	405,694

(2) Depreciation of product demonstration equipment was $6.1 million during the first nine months of fiscal 2024 and $5.9 million during the first nine months of fiscal 2023.

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jul. 27, 2024
Accounting Policies [Abstract]
Newly Issued Accounting Standards - Effective and Not Yet Effective	Newly Issued Accounting Standards - Effective In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2021-08 (“ASU 2021-08”), Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers to improve the accounting for acquired revenue contracts with customers in a business combination to address recognition of an acquired contract liability and payment terms and their effect on subsequent revenue recognized by the acquirer. ASU 2021-08 was effective for Ciena beginning in the first quarter of fiscal 2024 without any material impact on its consolidated financial position, results of operations and related disclosures. Newly Issued Accounting Standards - Not Yet Effective In November 2023, the FASB issued ASU No. 2023-07 (“ASU 2023-07”), Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 on a retrospective basis. Early adoption is permitted. Ciena is currently evaluating the impact of this ASU on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU No. 2023-09 (“ASU 2023-09”), Income Taxes (Topic 740): Improvement to Income Tax Disclosures to enhance the transparency and decision usefulness of income tax disclosures. ASU 2023-09 is effective for annual periods beginning after December 15, 2024; however, early adoption is permitted. ASU 2023-09 allows for adoption using either a prospective or retrospective method. Ciena is currently evaluating the impact of this ASU on its consolidated financial statements and related disclosures. In March 2024, the SEC adopted final rules under SEC Release No. 33-11275, The Enhancement and Standardization of Climate Related Disclosures for Investors, which will require registrants to provide certain climate-related information in their registration statements and annual reports. The rules will require information about a registrant's climate-related risks that are reasonably likely to have a material impact on its business, results of operations, or financial condition. The required information about climate-related risks will also include disclosure of a registrant's greenhouse gas emissions. In addition, the rules will require registrants to present certain climate-related financial metrics in their audited financial statements. Disclosures will be required prospectively, with information for prior periods required only to the extent it was previously disclosed in an SEC filing. Ciena is currently evaluating the impact of these final rules on its consolidated financial statements and related disclosures. On April 12, 2024, the final rules were indefinitely delayed pending the completion of judicial review in consolidated proceedings in the U.S. Court of Appeals, Eighth Circuit.

SHARE-BASED COMPENSATION EXPENSE (Tables)

9 Months Ended

Jul. 27, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation Expense

The following table summarizes share-based compensation expense for the periods indicated (in thousands):


	Quarter Ended				Nine Months Ended
	July 27,		July 29,		July 27,		July 29,
	2024		2023		2024		2023
Products	$	1,660	$	1,118	$	4,738	$	3,324
Services	3,122		2,687		9,486		7,643
Share-based compensation expense included in cost of goods sold	4,782		3,805		14,224		10,967
Research and development	13,118		10,954		40,064		30,919
Selling and marketing	10,315		8,770		31,786		25,949
General and administrative	9,257		9,377		29,211		27,313

Share-based compensation expense included in operating expense	32,690		29,101		101,061		84,181
Share-based compensation expense capitalized in inventory, net	(114)		127		148		257
Total share-based compensation expense	$	37,358	$	33,033	$	115,433	$	95,405

REVENUE - Geographical Distribution of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 27, 2024	Jul. 29, 2023	Jul. 27, 2024	Jul. 29, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 942,308	$ 1,067,886	$ 2,890,843	$ 3,257,062
Americas
Disaggregation of Revenue [Line Items]
Total revenue	718,605	749,479	2,099,680	2,308,934
EMEA
Disaggregation of Revenue [Line Items]
Total revenue	135,009	152,834	498,212	479,053
APAC
Disaggregation of Revenue [Line Items]
Total revenue	$ 88,694	$ 165,573	$ 292,951	$ 469,075

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

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+ Details

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	9 Months Ended
	Jul. 27, 2024	Jul. 29, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Equity - beginning balance	$ 2,848,361	$ 2,712,861
Equity- ending balance	2,890,872	2,947,007
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Equity - beginning balance	(37,767)	(46,645)
Other comprehensive gain (loss) before reclassifications	5,070	48,889
Amounts reclassified from AOCI	(7,495)	(14,022)
Equity- ending balance	(40,192)	(11,778)
Available-for-sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Equity - beginning balance	(372)	(2,965)
Other comprehensive gain (loss) before reclassifications	493	2,075
Amounts reclassified from AOCI	0	0
Equity- ending balance	121	(890)
Unrealized Gain (Loss) Derivatives \| Foreign Currency Forward Contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Equity - beginning balance	(8,156)	(10,197)
Other comprehensive gain (loss) before reclassifications	(112)	17,070
Amounts reclassified from AOCI	3,848	(7,756)
Equity- ending balance	(4,420)	(883)
Unrealized Gain (Loss) Derivatives \| Interest Rate Swaps
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Equity - beginning balance	18,962	9,397
Other comprehensive gain (loss) before reclassifications	1,728	11,763
Amounts reclassified from AOCI	(11,343)	(6,266)
Equity- ending balance	9,347	14,894
Cumulative Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Equity - beginning balance	(48,201)	(42,880)
Other comprehensive gain (loss) before reclassifications	2,961	17,981
Amounts reclassified from AOCI	0	0
Equity- ending balance	$ (45,240)	$ (24,899)

SIGNIFICANT ASSET IMPAIRMENT AND RESTRUCTURING COSTS (Tables)

9 Months Ended

Jul. 27, 2024

Restructuring and Related Activities [Abstract]

Schedule of Activity and Balance of the Restructuring Liability Accounts

The following table sets forth the restructuring activity and balance of the restructuring liability accounts, which are included in accrued liabilities and other short-term obligations on the Condensed Consolidated Balance Sheets, for the nine months ended July 27, 2024 (in thousands):


	Workforce reduction			Other restructuring activities			Total
Balance at October 28, 2023	$	1,913		$	—		$	1,913
Charges	13,708		(1)	8,279		(2)	21,987

Cash payments	(14,379)			(8,279)			(22,658)
Balance at July 27, 2024	$	1,242		$	—		$	1,242
Current restructuring liabilities	$	1,242		$	—		$	1,242

(1) Reflects a global workforce reduction of approximately 390 employees during the nine months ended July 27, 2024 as part of a business optimization strategy to improve gross margin, constrain operating expense and redesign certain business processes.

(2) Primarily represents costs related to restructured real estate facilities and the redesign of certain business processes associated with Ciena’s supply chain and distribution structure reorganization.

The following table sets forth the restructuring activity and balance of the restructuring liability accounts, which are included in accrued liabilities and other short-term obligations on the Condensed Consolidated Balance Sheets for the nine months ended July 29, 2023 (in thousands):


	Workforce reduction			Other restructuring activities			Total
Balance at October 29, 2022	$	1,215		$	4,620		$	5,835
Charges	4,509		(1)	12,116		(2)	16,625


Cash payments	(4,920)			(16,736)			(21,656)
Balance at July 29, 2023	$	804		$	—		$	804
Current restructuring liabilities	$	804		$	—		$	804

(1) Reflects employee costs associated with workforce reductions during the nine months ended July 29, 2023 as part of a business optimization strategy to improve gross margin, constrain operating expense, and redesign certain business processes.

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

9 Months Ended

Jul. 27, 2024

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table summarizes the changes in accumulated balances of other comprehensive income (“AOCI”), net of tax, for the nine months ended July 27, 2024 (in thousands):


	Unrealized Gain (Loss) on
	Available-for-sale Securities		Foreign Currency Forward Contracts		Interest Rate Swaps		Cumulative Translation Adjustment		Total
Balance at October 28, 2023	$	(372)	$	(8,156)	$	18,962	$	(48,201)	$	(37,767)
Other comprehensive gain (loss) before reclassifications	493		(112)		1,728		2,961		5,070
Amounts reclassified from AOCI	—		3,848		(11,343)		—		(7,495)
Balance at July 27, 2024	$	121	$	(4,420)	$	9,347	$	(45,240)	$	(40,192)

The following table summarizes the changes in AOCI, net of tax, for the nine months ended July 29, 2023 (in thousands):


	Unrealized Gain (Loss) on
	Available-for-sale Securities		Foreign Currency Forward Contracts		Interest Rate Swaps		Cumulative Translation Adjustment		Total
Balance at October 29, 2022	$	(2,965)	$	(10,197)	$	9,397	$	(42,880)	$	(46,645)
Other comprehensive gain before reclassifications	2,075		17,070		11,763		17,981		48,889
Amounts reclassified from AOCI	—		(7,756)		(6,266)		—		(14,022)
Balance at July 29, 2023	$	(890)	$	(883)	$	14,894	$	(24,899)	$	(11,778)

All amounts reclassified from AOCI, related to settlements on foreign currency forward contracts designated as cash flow hedges, impacted research and development expense on the Condensed Consolidated Statements of Operations. All amounts reclassified from AOCI, related to settlements on interest rate swaps designated as cash flow hedges, impacted interest and other income, net, on the Condensed Consolidated Statements of Operations.

OTHER BALANCE SHEET DETAILS

9 Months Ended

Jul. 27, 2024

Balance Sheet Related Disclosures [Abstract]

OTHER BALANCE SHEET DETAILS

As of the dates indicated, other long-term assets are comprised of the following (in thousands):


	July 27, 2024		October 28, 2023
Maintenance spares inventory, net	$	68,100	$	54,042
Equity investments(1)	21,730		48
Deferred compensation plan assets	15,590		11,456
Forward starting interest rate swaps	12,316		24,953
Capitalized contract acquisition costs	7,423		6,879
Cloud computing arrangements(2)	6,946		8,589
Deferred debt issuance costs, net	1,806		1,956
Restricted cash	164		168

Other	11,438		8,362
	$	145,513	$	116,453

(1) Increase is due to an equity investment in a privately held technology company during fiscal 2024.

(2) Amortization of cloud computing arrangements was $3.4 million and $1.9 million during the first nine months of fiscal 2024 and fiscal 2023, respectively.

As of the dates indicated, accrued liabilities and other short-term obligations are comprised of the following (in thousands):


	July 27, 2024		October 28, 2023
Compensation, payroll related tax and benefits	$	120,889	$	159,530
Warranty	49,933		57,089
Vacation	31,419		29,503
Interest payable	8,806		4,514
Foreign currency forward contracts	7,271		14,509
Income taxes payable	6,537		16,341
Finance lease liabilities	4,306		3,953

Other	118,077		145,980
	$	347,238	$	431,419

The following table summarizes the activity in Ciena’s accrued warranty for the periods indicated (in thousands):


	Beginning Balance		Current Period Provisions	Settlements	Ending Balance
Nine Months Ended July 29, 2023	$	45,503	18,860	(14,859)	$	49,504
Nine Months Ended July 27, 2024	$	57,089	14,708	(21,864)	$	49,933

As of the dates indicated, deferred revenue is comprised of the following (in thousands):


	July 27, 2024		October 28, 2023
Products	$	20,081	$	28,353
Services	237,004		200,107
Total deferred revenue	257,085		228,460
Less current portion	(179,457)		(154,419)
Long-term deferred revenue	$	77,628	$	74,041

INVENTORIES

9 Months Ended

Jul. 27, 2024

Inventory Disclosure [Abstract]

INVENTORIES

As of the dates indicated, inventories are comprised of the following (in thousands):


	July 27, 2024		October 28, 2023
Raw materials	$	612,768	$	664,797
Work-in-process	44,364		55,242
Finished goods	313,977		314,168
Deferred cost of goods sold	35,983		66,634
Gross inventories	1,007,092		1,100,841
Reserve for inventory excess and obsolescence	(69,693)		(50,003)
Inventories, net	$	937,399	$	1,050,838

Ciena has been expanding its manufacturing capacity and had been accumulating raw materials inventory of components that are available, in some cases with expanded lead times, in an effort to prepare Ciena to produce finished goods more quickly upon the easing of supply constraints for certain common components. During the first nine months of fiscal 2024 Ciena reduced its raw materials inventory of components due to the consumption of raw materials in excess of purchases.

Ciena makes estimates about future customer demand for its products when establishing the appropriate reserve for excess and obsolete inventory. For the periods presented, future demand was calculated using both customer backlog and future forecasted sales. Generally, Ciena’s customers may cancel or change their orders with limited advance notice, or they may decide not to accept its products and services, although instances of both cancellation and non-acceptance are rare. Ciena writes down its inventory for estimated obsolescence or unmarketable inventory by an amount equal to the difference between the cost of inventory and the estimated net realizable value based on assumptions about future demand, which are affected by changes in Ciena’s strategic direction, discontinuance of a product or introduction of newer versions of products, declines in the sales of or forecasted demand for certain products, and general market conditions. During the first nine months of fiscal 2024, Ciena recorded a provision for inventory excess and obsolescence of $35.4 million, primarily related to a decrease in the forecasted demand for certain Networking Platforms products. Deductions from the provision for excess and obsolete inventory relate primarily to disposal activities.

INVENTORIES (Tables)

9 Months Ended

Jul. 27, 2024

Inventory Disclosure [Abstract]

Schedule of Inventories

As of the dates indicated, inventories are comprised of the following (in thousands):


	July 27, 2024		October 28, 2023
Raw materials	$	612,768	$	664,797
Work-in-process	44,364		55,242
Finished goods	313,977		314,168
Deferred cost of goods sold	35,983		66,634
Gross inventories	1,007,092		1,100,841
Reserve for inventory excess and obsolescence	(69,693)		(50,003)
Inventories, net	$	937,399	$	1,050,838

EARNINGS PER SHARE CALCULATION

9 Months Ended

Jul. 27, 2024

Earnings Per Share [Abstract]

EARNINGS PER SHARE CALCULATION

Basic net income per common share (“Basic EPS”) is computed using the weighted average number of common shares outstanding. Diluted net income per potential common share (“Diluted EPS”) is computed using the weighted average number of the following, in each case, to the extent that the effect is not anti-dilutive: (i) common shares outstanding; (ii) shares issuable upon vesting of stock unit awards; and (iii) shares issuable under Ciena’s employee stock purchase plan and upon exercise of outstanding stock options, using the treasury stock method.

The following table presents the calculation of Basic and Diluted EPS for the periods indicated (in thousands, except per share amounts):


	Quarter Ended				Nine Months Ended
	July 27,		July 29,		July 27,		July 29,
	2024		2023		2024		2023
Net income	$	14,230	$	29,733	$	46,928	$	163,628
Basic weighted average shares outstanding	144,394		149,690		144,876		149,472
Effect of dilutive potential common shares	967		287		919		395
Diluted weighted average shares	145,361		149,977		145,795		149,867
Basic EPS	$	0.10	$	0.20	$	0.32	$	1.09
Diluted EPS	$	0.10	$	0.20	$	0.32	$	1.09
Antidilutive employee share-based awards, excluded	690		3,383		1,286		2,567

SEGMENTS AND ENTITY-WIDE DISCLOSURES - Geographic Distribution of Equipment, Building, Furniture and Fixtures (Details) - USD ($) $ in Thousands	Jul. 27, 2024	Oct. 28, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Equipment, building, furniture and fixtures, net	$ 327,878	$ 315,287
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Equipment, building, furniture and fixtures, net	248,024	229,707
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Equipment, building, furniture and fixtures, net	46,781	46,933
Other International
Revenues from External Customers and Long-Lived Assets [Line Items]
Equipment, building, furniture and fixtures, net	$ 33,073	$ 38,647

FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Jul. 27, 2024

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):


	July 27, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	427,818	$	—	$	—	$	427,818
Bond mutual fund	160,513		—		—		160,513
Time deposits	96,134		—		—		96,134
Deferred compensation plan assets	15,590		—		—		15,590
U.S. government obligations	—		261,010		—		261,010
Corporate debt securities	—		57,836		—		57,836
Foreign currency forward contracts	—		1,232		—		1,232
Interest rate swaps	—		12,316		—		12,316

Total assets measured at fair value	$	700,055	$	332,394	$	—	$	1,032,449

Liabilities:
Foreign currency forward contracts	$	—	$	7,271	$	—	$	7,271


Total liabilities measured at fair value	$	—	$	7,271	$	—	$	7,271


	October 28, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	661,101	$	—	$	—	$	661,101
Bond mutual fund	104,171		—		—		104,171
Time deposits	138,829		—		—		138,829
Deferred compensation plan assets	11,456		—		—		11,456
U.S. government obligations	—		169,909		—		169,909
Corporate debt securities	—		59,569		—		59,569
Foreign currency forward contracts	—		1,119		—		1,119
Interest rate swaps	—		24,953		—		24,953

Total assets measured at fair value	$	915,557	$	255,550	$	—	$	1,171,107

Liabilities:
Foreign currency forward contracts	$	—	$	14,509	$	—	$	14,509


Total liabilities measured at fair value	$	—	$	14,509	$	—	$	14,509

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):


	July 27, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	669,655	$	4,013	$	—	$	673,668
Short-term investments	14,810		203,000		—		217,810
Prepaid expenses and other	—		1,232		—		1,232
Long-term investments	—		111,833		—		111,833
Other long-term assets	15,590		12,316		—		27,906
Total assets measured at fair value	$	700,055	$	332,394	$	—	$	1,032,449

Liabilities:
Accrued liabilities and other short-term obligations	$	—	$	7,271	$	—	$	7,271

Total liabilities measured at fair value	$	—	$	7,271	$	—	$	7,271


	October 28, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	891,788	$	2,760	$	—	$	894,548
Short-term investments	12,313		92,440		—		104,753
Prepaid expenses and other	—		1,119		—		1,119
Long-term investments	—		134,278		—		134,278
Other long-term assets	11,456		24,953		—		36,409
Total assets measured at fair value	$	915,557	$	255,550	$	—	$	1,171,107

Liabilities:
Accrued liabilities and other short-term obligations	$	—	$	14,509	$	—	$	14,509


Total liabilities measured at fair value	$	—	$	14,509	$	—	$	14,509

OTHER BALANCE SHEET DETAILS - Other Long Term Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Jul. 27, 2024	Jul. 29, 2023	Oct. 28, 2023
Balance Sheet Related Disclosures [Abstract]
Maintenance spares inventory, net	$ 68,100		$ 54,042
Equity investments	21,730		48
Deferred compensation plan assets	15,590		11,456
Forward starting interest rate swaps	12,316		24,953
Capitalized contract acquisition costs	7,423		6,879
Cloud computing arrangements	6,946		8,589
Deferred debt issuance costs, net	1,806		1,956
Restricted cash	164		168
Other	11,438		8,362
Total	145,513		$ 116,453
Amortization of cloud computing arrangements	$ 3,400	$ 1,900
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Total		Total

SHORT-TERM AND LONG-TERM DEBT

9 Months Ended

Jul. 27, 2024

Debt Disclosure [Abstract]

SHORT-TERM AND LONG-TERM DEBT

Outstanding Term Loan Payable

2030 New Term Loan

On October 24, 2023, Ciena entered into an Incremental Amendment Agreement to its Credit Agreement to which Ciena incurred a new tranche of senior secured term loans in an aggregate principal amount of $1.2 billion maturing on October 24, 2030 (the “2030 New Term Loan”) and a new senior secured revolving credit facility of $300.0 million (the “Revolving Credit Facility”). The 2030 New Term Loan requires Ciena to make installment payments of $2.9 million quarterly, or $11.7 million annually, with the remaining balance payable at maturity.

The net carrying value of the 2030 New Term Loan was comprised of the following as of the date indicated (in thousands):


	July 27, 2024								October 28, 2023
	Principal Balance		Unamortized Discount		Deferred Debt Issuance Costs		Net Carrying Value		Net Carrying Value
2030 New Term Loan	$	1,164,150	$	(4,560)	$	(5,830)	$	1,153,760	$	1,159,371

Deferred debt issuance costs that were deducted from the carrying amount of the 2030 New Term Loan totaled $5.8 million as of July 27, 2024 and $5.5 million at October 28, 2023. Deferred debt issuance costs are amortized using the straight-line method, which approximates the effect of the effective interest rate, through the maturity of the 2030 New Term Loan. The amortization of deferred debt issuance costs for the 2030 New Term Loan is included in interest expense and was approximately $0.7 million during the first nine months of fiscal 2024.

As of July 27, 2024, the estimated fair value of the 2030 New Term Loan was $1.2 billion. The 2030 New Term Loan is categorized as Level 2 in the fair value hierarchy. Ciena estimated the fair value of its 2030 New Term Loan using a market approach based on observable inputs, such as current market transactions involving comparable securities.

Refinanced Term Loans

The proceeds of the 2030 New Term Loan, net of original issuance discount, was used to repay in full $1.2 billion of outstanding principal of the 2025 Term Loan (as defined below) and the 2030 Term Loan (as defined below), together the Refinanced Term Loans, including accrued interest.

2025 Term Loan

On January 19, 2023, pursuant to the Incremental Agreement (as defined below) to the Credit Agreement, the Credit Agreement was amended to replace the London Interbank Offered Rate (LIBOR) with SOFR for Ciena’s senior secured term loan maturing on September 28, 2025 (the “2025 Term Loan”) in response to pending impact of FASB Accounting Standards Codification 848, Reference Rate Reform. Deferred debt issuance costs are amortized using the straight-line method, which approximates the effect of the effective interest rate method, through the maturity of the 2025 Term Loan. The amortization of deferred debt issuance costs for the 2025 Term Loan is included in interest expense, and was $0.5 million for the first nine months of fiscal 2023.

2030 Term Loan

On January 19, 2023, Ciena entered into an Incremental Joinder and Amendment Agreement (the “Incremental Agreement”) to its Credit Agreement, dated July 15, 2014, as amended, by and among Ciena, the lenders party thereto and Bank of America, N.A., as administrative agent, pursuant to which Ciena incurred a new tranche of senior secured term loans in an aggregate principal amount of $500.0 million and maturing on January 19, 2030 (the “2030 Term Loan”). Net of original issue discount and debt issuance costs, the $492.3 million in proceeds from the 2030 Term Loan were used for general corporate purposes. Deferred debt issuance costs are amortized using the straight-line method, which approximates the effect of the effective interest rate method, through the maturity of the 2030 Term Loan. The amortization of deferred debt issuance costs for the 2030 Term Loan is included in interest expense, and was $0.4 million for the first nine months of fiscal 2023.

Outstanding Senior Notes Payable

2030 Notes

On January 18, 2022, Ciena entered into an indenture among Ciena, as issuer, certain domestic subsidiaries of Ciena, as guarantors, and U.S. Bank National Association, as trustee, pursuant to which Ciena issued $400.0 million in aggregate principal amount of 4.00% fixed-rate senior notes due 2030 (the “2030 Notes”).

The net carrying value of the 2030 Notes was comprised of the following as of the dates indicated (in thousands):


	July 27, 2024						October 28, 2023
	Principal Balance		Deferred Debt Issuance Costs		Net Carrying Value		Net Carrying Value
2030 Notes	$	400,000	$	(3,745)	$	396,255	$	395,735

Deferred debt issuance costs that were deducted from the carrying amount of the 2030 Notes totaled $3.7 million as of July 27, 2024 and $4.3 million as of October 28, 2023. Deferred debt issuance costs are amortized using the straight-line method, which approximates the effect of the effective interest rate, through the maturity of the 2030 Notes. The amortization of deferred debt issuance costs for the 2030 Notes is included in interest expense, and was approximately $0.5 million during both the first nine months of fiscal 2024 and fiscal 2023.

As of July 27, 2024, the estimated fair value of the 2030 Notes was $367.0 million. The 2030 Notes are categorized as Level 2 in the fair value hierarchy. Ciena estimated the fair value of its 2030 Notes using a market approach based on observable inputs, such as current market transactions involving comparable securities.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

SEGMENTS AND ENTITY-WIDE DISCLOSURES - Other Intangibles Assets, Goodwill and Maintenance Spares (Details) - USD ($) $ in Thousands	Jul. 27, 2024	Oct. 28, 2023
Segment Reporting Information [Line Items]
Other intangible assets, net	$ 174,974
Goodwill	444,791	$ 444,765
Maintenance spares, net	68,100	$ 54,042
Networking Platforms
Segment Reporting Information [Line Items]
Other intangible assets, net	166,067
Goodwill	199,551
Maintenance spares, net	0
Platform Software and Services
Segment Reporting Information [Line Items]
Other intangible assets, net	0
Goodwill	156,191
Maintenance spares, net	0
Blue Planet Automation Software and Services
Segment Reporting Information [Line Items]
Other intangible assets, net	8,907
Goodwill	89,049
Maintenance spares, net	0
Global Services
Segment Reporting Information [Line Items]
Other intangible assets, net	0
Goodwill	0
Maintenance spares, net	$ 68,100

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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+ Details

SEGMENTS AND ENTITY-WIDE DISCLOSURES - Revenue, Profit (Loss) and Net Income (Loss) Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 27, 2024	Jul. 29, 2023	Jul. 27, 2024	Jul. 29, 2023
Less: Non-performance operating expenses
Selling and marketing	$ 121,520	$ 118,266	$ 373,749	$ 367,156
General and administrative	58,248	49,349	162,504	151,184
Significant asset impairments and restructuring costs	1,361	4,174	21,987	16,625
Amortization of intangible assets	7,185	9,487	22,384	26,773
Acquisition and integration costs	0	59	0	3,474
Add: Other non-performance financial items
Interest and other income, net	14,013	10,187	36,460	50,711
Interest expense	(24,401)	(24,060)	(72,038)	(63,819)
Less: Provision for income taxes	2,125	34,608	24,901	89,507
Net income	14,230	29,733	46,928	163,628
Operating Segments
Add: Other non-performance financial items
Net income	215,057	259,549	688,031	831,455
Operating Segments \| Networking Platforms
Add: Other non-performance financial items
Net income	106,870	171,380	387,211	588,281
Operating Segments \| Platform Software and Services
Add: Other non-performance financial items
Net income	53,131	49,691	165,171	136,028
Operating Segments \| Blue Planet Automation Software and Services
Add: Other non-performance financial items
Net income	4,705	(12,072)	(10,127)	(30,044)
Operating Segments \| Global Services
Add: Other non-performance financial items
Net income	$ 50,351	$ 50,550	$ 145,776	$ 137,190

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in-Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance (in shares) at Oct. 29, 2022		148,412,943
Equity - beginning balance at Oct. 29, 2022	$ 2,712,861	$ 1,484	$ 6,390,252	$ (46,645)	$ (3,632,230)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	163,628				163,628
Other comprehensive income (loss)	34,867			34,867
Repurchase of common stock - repurchase program, net (in shares)		(1,441,435)
Repurchase of common stock - repurchase program, net	(61,236)	$ (14)	(61,222)
Issuance of shares from employee equity plans (in shares)		2,429,069
Issuance of shares from employee equity plans	31,276	$ 24	31,252
Share-based compensation expense	95,405		95,405
Shares repurchased for tax withholdings on vesting of stock unit awards (in shares)		(628,064)
Shares repurchased for tax withholdings on vesting of stock unit awards	(29,794)	$ (6)	(29,788)
Ending balance (in shares) at Jul. 29, 2023		148,772,513
Equity- ending balance at Jul. 29, 2023	$ 2,947,007	$ 1,488	6,425,899	(11,778)	(3,468,602)
Beginning balance (in shares) at Oct. 28, 2023	144,829,938	144,829,938
Equity - beginning balance at Oct. 28, 2023	$ 2,848,361	$ 1,448	6,262,083	(37,767)	(3,377,403)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	46,928				46,928
Other comprehensive income (loss)	(2,425)			(2,425)
Repurchase of common stock - repurchase program, net (in shares)		(2,415,438)
Repurchase of common stock - repurchase program, net	(118,267)	$ (24)	(118,243)
Issuance of shares from employee equity plans (in shares)		2,730,328
Issuance of shares from employee equity plans	34,292	$ 27	34,265
Share-based compensation expense	115,433		115,433
Shares repurchased for tax withholdings on vesting of stock unit awards (in shares)		(717,955)
Shares repurchased for tax withholdings on vesting of stock unit awards	$ (33,450)	$ (7)	(33,443)
Ending balance (in shares) at Jul. 27, 2024	144,426,873	144,426,873
Equity- ending balance at Jul. 27, 2024	$ 2,890,872	$ 1,444	$ 6,260,095	$ (40,192)	$ (3,330,475)

CASH EQUIVALENT, SHORT-TERM AND LONG-TERM INVESTMENTS - Legal Maturities of Debt Investments (Details) - USD ($) $ in Thousands	Jul. 27, 2024	Oct. 28, 2023
Amortized Cost
Less than one year	$ 303,098
Due in 1-2 years	111,699
Amortized Cost	414,797	$ 368,773
Estimated Fair Value
Less than one year	303,147
Due in 1-2 years	111,833
Estimated Fair Value	$ 414,980	$ 368,307

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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+ Details

OTHER BALANCE SHEET DETAILS - Accrued Liabilities and Other Short-term Obligations (Details) - USD ($) $ in Thousands	Jul. 27, 2024	Oct. 28, 2023	Jul. 29, 2023	Oct. 29, 2022
Balance Sheet Related Disclosures [Abstract]
Compensation, payroll related tax and benefits	$ 120,889	$ 159,530
Warranty	49,933	57,089	$ 49,504	$ 45,503
Vacation	31,419	29,503
Interest payable	6,537	16,341
Foreign currency forward contracts	7,271	14,509
Income taxes payable	8,806	4,514
Finance lease liabilities	4,306	3,953
Other	118,077	145,980
Accrued liabilities and other short-term obligations	$ 347,238	$ 431,419
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities and other short-term obligations	Accrued liabilities and other short-term obligations

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jul. 27, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SEGMENTS AND ENTITY-WIDE DISCLOSURES - Narrative (Details) $ in Thousands	9 Months Ended
	Jul. 27, 2024 USD ($) segment	Oct. 28, 2023 USD ($)
Segment Reporting [Abstract]
Equipment, building, furniture and fixtures, net	$ 299,161	$ 280,147
Operating right-of-use assets	$ 28,717	$ 35,140
Number of operating segments \| segment	4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Jul. 27, 2024	Jul. 29, 2023
Cash flows provided by (used in) operating activities:
Net income	$ 46,928	$ 163,628
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation of equipment, building, furniture and fixtures, and amortization of leasehold improvements	68,997	69,213
Share-based compensation expense	115,433	95,405
Amortization of intangible assets	30,675	36,274
Deferred taxes	(19,909)	(64,005)
Provision for inventory excess and obsolescence	35,400	18,767
Provision for warranty	14,708	18,860
Gain on equity investments, net	0	(26,368)
Other	11,968	13,694
Changes in assets and liabilities:
Accounts receivable	92,421	(80,399)
Inventories	78,220	(262,345)
Prepaid expenses and other	(221,823)	72,062
Operating lease right-of-use assets	8,963	11,003
Accounts payable, accruals and other obligations	(112,352)	(133,880)
Deferred revenue	28,833	57,547
Short- and long-term operating lease liabilities	(13,290)	(16,596)
Net cash provided by (used in) operating activities	165,172	(27,140)
Cash flows used in investing activities:
Payments for equipment, furniture, fixtures and intellectual property	(53,098)	(83,422)
Purchases of investments	(197,303)	(119,240)
Proceeds from sales and maturities of investments	114,899	150,646
Settlement of foreign currency forward contracts, net	(362)	(3,272)
Purchase of equity investment	(21,682)	0
Acquisition of business, net of cash acquired	0	(230,048)
Net cash used in investing activities	(157,546)	(285,336)
Cash flows provided by (used in) financing activities:
Proceeds from issuance of term loan, net	0	497,500
Payment of long-term debt	(5,850)	(6,448)
Payment of debt issuance costs	(2,554)	(5,422)
Payment of finance lease obligations	(3,004)	(2,830)
Shares repurchased for tax withholdings on vesting of stock unit awards	(33,450)	(29,794)
Repurchases of common stock - repurchase program, net	(125,816)	(57,736)
Proceeds from issuance of common stock	34,292	31,276
Net cash provided by (used in) financing activities	(136,382)	426,546
Effect of exchange rate changes on cash, cash equivalents and restricted cash	1,499	9,501
Net increase (decrease) in cash, cash equivalents and restricted cash	(127,257)	123,571
Cash, cash equivalents and restricted cash at beginning of period	1,010,786	994,378
Cash, cash equivalents and restricted cash at end of period	883,529	1,117,949
Supplemental disclosure of cash flow information
Cash paid during the period for interest, net	64,999	56,709
Cash paid during the period for income taxes, net	41,736	68,058
Operating lease payments	14,672	18,038
Non-cash investing and financing activities
Purchase of equipment in accounts payable	35,316	4,579
Repurchase of common stock in accrued liabilities from repurchase program, net	1,762	3,500
Operating right-of-use assets subject to lease liability	5,326	9,771
Gain on equity investments, net	$ 0	$ 26,368

INTEREST AND OTHER INCOME, NET - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Jul. 27, 2024	Jul. 29, 2023	Jan. 28, 2023	Jul. 27, 2024	Jul. 29, 2023
Other Income and Expenses [Abstract]
Gain (loss) on equity investments, net	$ 0	$ (87)	$ 26,500	$ 0	$ 26,368
Foreign currency exchange losses	(1,611)	(4,031)		(11,215)	(2,927)
Gains (losses) on non-hedge designated foreign currency forward contracts	$ 519	$ 1,679		$ 2,517	$ (2,885)

PREPAID EXPENSES AND OTHER (Details) - USD ($) $ in Thousands	9 Months Ended
	Jul. 27, 2024	Jul. 29, 2023	Oct. 28, 2023
Capitalized Contract Cost [Line Items]
Cash advances to contract manufacturers	$ 182,886		$ 0
Prepaid VAT and other taxes	112,997		96,724
Prepaid expenses	53,950		58,954
Product demonstration equipment, net	43,854		40,682
Other non-trade receivables	42,482		33,408
Deferred deployment expense	1,805		1,170
Foreign currency forward contracts	1,232		1,118
Prepaid expenses and other	600,008		405,694
Depreciation of product demonstration equipment	6,100	$ 5,900
Contract assets for unbilled accounts receivable, net
Capitalized Contract Cost [Line Items]
Capitalized contract costs	142,769		150,312
Capitalized contract acquisition costs
Capitalized Contract Cost [Line Items]
Capitalized contract costs	$ 18,033		$ 23,326

CASH EQUIVALENT, SHORT-TERM AND LONG-TERM INVESTMENTS (Tables)

9 Months Ended

Jul. 27, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-Sale Securities Reconciliation

As of the dates indicated, investments classified as available-for-sale are comprised of the following (in thousands):


	July 27, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
U.S. government obligations	$	260,879	$	250	$	(119)	$	261,010
Corporate debt securities	57,791		64		(19)		57,836
Time deposits	96,127		7		—		96,134
	$	414,797	$	321	$	(138)	$	414,980

Included in cash equivalents	$	85,337	$	—	$	—	$	85,337
Included in short-term investments	217,761		158		(109)		217,810
Included in long-term investments	111,699		163		(29)		111,833
	$	414,797	$	321	$	(138)	$	414,980


	October 28, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
U.S. government obligations	$	170,260	$	28	$	(379)	$	169,909
Corporate debt securities	59,683		1		(115)		59,569
Time deposits	138,830		4		(5)		138,829
	$	368,773	$	33	$	(499)	$	368,307

Included in cash equivalents	$	129,276	$	—	$	—	$	129,276
Included in short-term investments	105,042		4		(293)		104,753
Included in long-term investments	134,455		29		(206)		134,278
	$	368,773	$	33	$	(499)	$	368,307

Schedule of Legal Maturities of Debt Investments

The following table summarizes the final legal maturities of debt investments as of July 27, 2024 (in thousands):


	Amortized Cost		Estimated Fair Value
Less than one year	$	303,098	$	303,147
Due in 1-2 years	111,699		111,833
	$	414,797	$	414,980

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Jul. 27, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Tax Contingencies Ciena is subject to various tax liabilities arising in the ordinary course of business. Ciena does not expect that the ultimate settlement of these tax liabilities will have a material effect on its results of operations, financial position, or cash flows. Litigation Ciena is subject to various legal proceedings, claims, and other matters arising in the ordinary course of business, including those that relate to employment, commercial, tax, and other regulatory matters. Ciena is also subject to intellectual property related claims, including claims against third parties that may involve contractual indemnification obligations on the part of Ciena. Ciena does not expect that the ultimate costs to resolve such matters will have a material effect on its results of operations, financial position, or cash flows. Purchase Order Obligations Ciena has certain advanced orders for supply of certain long lead time components. As of July 27, 2024, Ciena had $1.5 billion in outstanding purchase order commitments to contract manufacturers and component suppliers for inventory. In certain instances, Ciena is permitted to cancel, reschedule or adjust these orders. Consequently, only a portion of this amount relates to firm, non-cancelable and unconditional obligations.

COMMITMENTS AND CONTINGENCIES (Details) $ in Billions	Jul. 27, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Purchase obligation	$ 1.5

INVENTORIES (Details) - USD ($) $ in Thousands	9 Months Ended
INVENTORIES (Details) - USD ($) $ in Thousands	Jul. 27, 2024	Jul. 29, 2023	Oct. 28, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 612,768		$ 664,797
Work-in-process	44,364		55,242
Finished goods	313,977		314,168
Deferred cost of goods sold	35,983		66,634
Gross inventories	1,007,092		1,100,841
Reserve for inventory excess and obsolescence	(69,693)		(50,003)
Inventories, net	937,399		$ 1,050,838
Provision for inventory excess and obsolescence	$ 35,400	$ 18,767

INCOME TAXES	9 Months Ended
INCOME TAXES	Jul. 27, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESThe effective tax rate for the third quarter and nine months ended July 27, 2024 was lower than the effective tax rate for the third quarter and nine months ended July 29, 2023, primarily due to the reduction in the amount of research and development expenses capitalized with respect to foreign subsidiaries.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
SIGNIFICANT ACCOUNTING POLICIES	Jul. 27, 2024
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Except for the changes in certain policies described below, there have been no material changes to Ciena’s significant accounting policies, compared to the accounting policies described in Note 1, Ciena Corporation and Significant Accounting Policies and Estimates, in Notes to Consolidated Financial Statements in Item 8 of Part II of the 2023 Annual Report. Newly Issued Accounting Standards - Effective In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2021-08 (“ASU 2021-08”), Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers to improve the accounting for acquired revenue contracts with customers in a business combination to address recognition of an acquired contract liability and payment terms and their effect on subsequent revenue recognized by the acquirer. ASU 2021-08 was effective for Ciena beginning in the first quarter of fiscal 2024 without any material impact on its consolidated financial position, results of operations and related disclosures. Newly Issued Accounting Standards - Not Yet Effective In November 2023, the FASB issued ASU No. 2023-07 (“ASU 2023-07”), Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 on a retrospective basis. Early adoption is permitted. Ciena is currently evaluating the impact of this ASU on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU No. 2023-09 (“ASU 2023-09”), Income Taxes (Topic 740): Improvement to Income Tax Disclosures to enhance the transparency and decision usefulness of income tax disclosures. ASU 2023-09 is effective for annual periods beginning after December 15, 2024; however, early adoption is permitted. ASU 2023-09 allows for adoption using either a prospective or retrospective method. Ciena is currently evaluating the impact of this ASU on its consolidated financial statements and related disclosures. In March 2024, the SEC adopted final rules under SEC Release No. 33-11275, The Enhancement and Standardization of Climate Related Disclosures for Investors, which will require registrants to provide certain climate-related information in their registration statements and annual reports. The rules will require information about a registrant's climate-related risks that are reasonably likely to have a material impact on its business, results of operations, or financial condition. The required information about climate-related risks will also include disclosure of a registrant's greenhouse gas emissions. In addition, the rules will require registrants to present certain climate-related financial metrics in their audited financial statements. Disclosures will be required prospectively, with information for prior periods required only to the extent it was previously disclosed in an SEC filing. Ciena is currently evaluating the impact of these final rules on its consolidated financial statements and related disclosures. On April 12, 2024, the final rules were indefinitely delayed pending the completion of judicial review in consolidated proceedings in the U.S. Court of Appeals, Eighth Circuit.

CASH EQUIVALENT, SHORT-TERM AND LONG-TERM INVESTMENTS

9 Months Ended

Jul. 27, 2024

Investments, Debt and Equity Securities [Abstract]

CASH EQUIVALENT, SHORT-TERM AND LONG-TERM INVESTMENTS

As of the dates indicated, investments classified as available-for-sale are comprised of the following (in thousands):


	July 27, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
U.S. government obligations	$	260,879	$	250	$	(119)	$	261,010
Corporate debt securities	57,791		64		(19)		57,836
Time deposits	96,127		7		—		96,134
	$	414,797	$	321	$	(138)	$	414,980

Included in cash equivalents	$	85,337	$	—	$	—	$	85,337
Included in short-term investments	217,761		158		(109)		217,810
Included in long-term investments	111,699		163		(29)		111,833
	$	414,797	$	321	$	(138)	$	414,980


	October 28, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
U.S. government obligations	$	170,260	$	28	$	(379)	$	169,909
Corporate debt securities	59,683		1		(115)		59,569
Time deposits	138,830		4		(5)		138,829
	$	368,773	$	33	$	(499)	$	368,307

Included in cash equivalents	$	129,276	$	—	$	—	$	129,276
Included in short-term investments	105,042		4		(293)		104,753
Included in long-term investments	134,455		29		(206)		134,278
	$	368,773	$	33	$	(499)	$	368,307

The following table summarizes the final legal maturities of debt investments as of July 27, 2024 (in thousands):


	Amortized Cost		Estimated Fair Value
Less than one year	$	303,098	$	303,147
Due in 1-2 years	111,699		111,833
	$	414,797	$	414,980

SHARE-BASED COMPENSATION EXPENSE - Schedule of Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 27, 2024	Jul. 29, 2023	Jul. 27, 2024	Jul. 29, 2023
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense capitalized in inventory, net	$ (114)	$ 127	$ 148	$ 257
Total share-based compensation expense	37,358	33,033	115,433	95,405
Share-based compensation expense included in cost of goods sold
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense included in operating expense	4,782	3,805	14,224	10,967
Products
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense included in operating expense	1,660	1,118	4,738	3,324
Services
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense included in operating expense	3,122	2,687	9,486	7,643
Share-based compensation expense included in operating expense
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense included in operating expense	32,690	29,101	101,061	84,181
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense included in operating expense	13,118	10,954	40,064	30,919
Selling and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense included in operating expense	10,315	8,770	31,786	25,949
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense included in operating expense	$ 9,257	$ 9,377	$ 29,211	$ 27,313

SHORT-TERM AND LONG-TERM DEBT - Net Carrying Values of Term Loans (Details) - Secured Debt - USD ($) $ in Thousands	Jul. 27, 2024	Oct. 28, 2023	Oct. 24, 2023
2030 New Term Loan
Debt Instrument [Line Items]
Principal Balance	$ 1,164,150		$ 1,200,000
Unamortized Discount	(4,560)
Deferred Debt Issuance Costs	(5,830)
Net Carrying Value	1,153,760	$ 1,159,371
2030 Notes
Debt Instrument [Line Items]
Principal Balance	400,000
Deferred Debt Issuance Costs	(3,745)
Net Carrying Value	$ 396,255	$ 395,735

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Section 55
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+ Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

EARNINGS PER SHARE CALCULATION (Tables)

9 Months Ended

Jul. 27, 2024

Earnings Per Share [Abstract]

Schedule of Reconciliation of Numerator and Denominator of Basic and Diluted Earnings Per Share

The following table presents the calculation of Basic and Diluted EPS for the periods indicated (in thousands, except per share amounts):


	Quarter Ended				Nine Months Ended
	July 27,		July 29,		July 27,		July 29,
	2024		2023		2024		2023
Net income	$	14,230	$	29,733	$	46,928	$	163,628
Basic weighted average shares outstanding	144,394		149,690		144,876		149,472
Effect of dilutive potential common shares	967		287		919		395
Diluted weighted average shares	145,361		149,977		145,795		149,867
Basic EPS	$	0.10	$	0.20	$	0.32	$	1.09
Diluted EPS	$	0.10	$	0.20	$	0.32	$	1.09
Antidilutive employee share-based awards, excluded	690		3,383		1,286		2,567

INTERIM FINANCIAL STATEMENTS	9 Months Ended
INTERIM FINANCIAL STATEMENTS	Jul. 27, 2024
Quarterly Financial Data [Abstract]
INTERIM FINANCIAL STATEMENTS	INTERIM FINANCIAL STATEMENTS The interim financial statements included herein for Ciena Corporation and its wholly owned subsidiaries (“Ciena”) have been prepared by Ciena, without audit, pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”). The preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires Ciena to make judgments, assumptions, and estimates that affect the amounts reported in the Condensed Consolidated Financial Statements and accompanying notes. Among other things, these estimates form the basis for judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ materially from these estimates under different assumptions or conditions. To the extent that there are material differences between Ciena’s estimates and actual results, Ciena’s consolidated financial statements will be affected. In the opinion of management, the financial statements included in this report reflect all normal recurring adjustments that Ciena considers necessary for the fair statement of the results of operations of Ciena for the interim periods covered and of the financial position of Ciena at the date of the interim balance sheets. Certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to SEC rules and regulations. The Condensed Consolidated Balance Sheet as of October 28, 2023 was derived from audited financial statements, but does not include all disclosures required by GAAP. However, Ciena believes that the disclosures are adequate to understand the information presented herein. The operating results for interim periods are not necessarily indicative of the operating results for the entire year. These financial statements should be read in conjunction with Ciena’s audited consolidated financial statements and the notes thereto included in Ciena’s Annual Report on Form 10-K for the fiscal year ended October 28, 2023 (the “2023 Annual Report”). Ciena has a 52 or 53-week fiscal year, with quarters ending on the Saturday nearest to the last day of January, April, July, and October, respectively, of each year. Fiscal 2024 is a 53-week fiscal year with the additional week occurring in the fourth quarter. Fiscal 2023 was a 52-week fiscal year.

SEGMENTS AND ENTITY-WIDE DISCLOSURES

9 Months Ended

Jul. 27, 2024

Segment Reporting [Abstract]

SEGMENTS AND ENTITY-WIDE DISCLOSURES

Segment Reporting

Ciena has the following operating segments for reporting purposes: (i) Networking Platforms; (ii) Platform Software and Services; (iii) Blue Planet Automation Software and Services; and (iv) Global Services.

Ciena's long-lived assets, including equipment, building, furniture and fixtures, right-of-use (“ROU”) assets, finite-lived intangible assets, and maintenance spares, are not reviewed by Ciena's chief operating decision maker for purposes of evaluating performance and allocating resources. As of July 27, 2024, equipment, building, furniture and fixtures, net, totaled $299.2 million, and operating ROU assets totaled $28.7 million both of which support asset groups within Ciena’s four operating segments and unallocated selling and general and administrative activities. As of July 27, 2024, finite-lived intangible assets, goodwill, and maintenance spares are assigned to asset groups within the following segments (in thousands):


	July 27, 2024
	Networking Platforms		Platform Software and Services	Blue Planet Automation Software and Services	Global Services	Total
Other intangible assets, net	$	166,067	—	8,907	—	$	174,974
Goodwill	$	199,551	156,191	89,049	—	$	444,791
Maintenance spares, net	$	—	—	—	68,100	$	68,100

Segment Profit (Loss)

Segment profit (loss) is determined based on internal performance measures used by Ciena’s chief executive officer to assess the performance of each operating segment in a given period. In connection with that assessment, the chief executive officer excludes the following items: selling and marketing costs; general and administrative costs; significant asset impairments and restructuring costs; amortization of intangible assets; acquisition and integration costs; interest and other income, net; interest expense; and provision for income taxes.

The table below sets forth Ciena’s segment profit (loss) and the reconciliation to net income for the periods indicated (in thousands):


	Quarter Ended				Nine Months Ended
	July 27,		July 29,		July 27,		July 29,
	2024		2023		2024		2023
Segment profit (loss):
Networking Platforms	$	106,870	$	171,380	$	387,211	$	588,281
Platform Software and Services	53,131		49,691		165,171		136,028
Blue Planet Automation Software and Services	4,705		(12,072)		(10,127)		(30,044)
Global Services	50,351		50,550		145,776		137,190
Total segment profit	215,057		259,549		688,031		831,455
Less: Non-performance operating expenses
Selling and marketing	121,520		118,266		373,749		367,156
General and administrative	58,248		49,349		162,504		151,184
Significant asset impairments and restructuring costs	1,361		4,174		21,987		16,625
Amortization of intangible assets	7,185		9,487		22,384		26,773
Acquisition and integration costs	—		59		—		3,474
Add: Other non-performance financial items
Interest and other income, net	14,013		10,187		36,460		50,711
Interest expense	(24,401)		(24,060)		(72,038)		(63,819)
Less: Provision for income taxes	2,125		34,608		24,901		89,507
Net income	$	14,230	$	29,733	$	46,928	$	163,628

Entity-Wide Reporting

The following table reflects Ciena’s geographic distribution of equipment, building, furniture and fixtures, net, and operating ROU assets, with any country accounting for at least 10% of total equipment, building, furniture and fixtures, net, and operating ROU assets specifically identified. Equipment, building, furniture and fixtures, net, and operating ROU assets attributable to geographic regions outside of the United States and Canada are reflected as “Other International.” For the periods indicated, Ciena’s geographic distribution of equipment, building, furniture and fixtures, net, and operating ROU assets was as follows (in thousands):


	July 27, 2024		October 28, 2023
Canada	$	248,024	$	229,707
United States	46,781		46,933
Other International	33,073		38,647
Total	$	327,878	$	315,287

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 27, 2024	Oct. 28, 2023
Current assets:
Cash and cash equivalents	$ 883,365	$ 1,010,618
Short-term investments	217,810	104,753
Accounts receivable, net of allowance for credit losses of $9.2 million and $11.7 million as of July 27, 2024 and October 28, 2023, respectively.	899,877	1,003,876
Inventories, net	937,399	1,050,838
Prepaid expenses and other	600,008	405,694
Total current assets	3,538,459	3,575,779
Long-term investments	111,833	134,278
Equipment, building, furniture and fixtures, net	299,161	280,147
Operating right-of-use assets	28,717	35,140
Goodwill	444,791	444,765
Other intangible assets, net	174,974	205,627
Deferred tax asset, net	831,682	809,306
Other long-term assets	145,513	116,453
Total assets	5,575,130	5,601,495
Current liabilities:
Accounts payable	316,599	317,828
Accrued liabilities and other short-term obligations	347,238	431,419
Deferred revenue	179,457	154,419
Operating lease liabilities	15,565	16,655
Current portion of long-term debt	11,700	11,700
Total current liabilities	870,559	932,021
Long-term deferred revenue	77,628	74,041
Other long-term obligations	171,014	170,407
Long-term operating lease liabilities	26,742	33,259
Long-term debt, net	1,538,315	1,543,406
Total liabilities	2,684,258	2,753,134
Commitments and contingencies (Note 19)
Stockholders’ equity:
Preferred stock – par value $0.01; 20,000,000 shares authorized; zero shares issued and outstanding	0	0
Common stock – par value $0.01; 290,000,000 shares authorized; 144,426,873 and 144,829,938 shares issued and outstanding	1,444	1,448
Additional paid-in capital	6,260,095	6,262,083
Accumulated other comprehensive loss	(40,192)	(37,767)
Accumulated deficit	(3,330,475)	(3,377,403)
Total stockholders’ equity	2,890,872	2,848,361
Total liabilities and stockholders’ equity	$ 5,575,130	$ 5,601,495

Cover - shares	9 Months Ended
Cover - shares	Jul. 27, 2024	Aug. 30, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 27, 2024
Document Transition Report	false
Entity File Number	001-36250
Entity Registrant Name	Ciena Corp
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	23-2725311
Entity Address, Address Line One	7035 Ridge Road
Entity Address, City or Town	Hanover
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	21076
City Area Code	410
Local Phone Number	694-5700
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	CIEN
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		144,427,200
Entity Central Index Key	0000936395
Current Fiscal Year End Date	--11-02
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

SIGNIFICANT ASSET IMPAIRMENT AND RESTRUCTURING COSTS

9 Months Ended

Jul. 27, 2024

Restructuring and Related Activities [Abstract]

SIGNIFICANT ASSET IMPAIRMENT AND RESTRUCTURING COSTS

Restructuring Costs

Ciena has undertaken a number of restructuring activities intended to reduce expense and to align its workforce and costs with market opportunities, product development, and business strategies. The following table sets forth the restructuring activity and balance of the restructuring liability accounts, which are included in accrued liabilities and other short-term obligations on the Condensed Consolidated Balance Sheets, for the nine months ended July 27, 2024 (in thousands):


	Workforce reduction			Other restructuring activities			Total
Balance at October 28, 2023	$	1,913		$	—		$	1,913
Charges	13,708		(1)	8,279		(2)	21,987

Cash payments	(14,379)			(8,279)			(22,658)
Balance at July 27, 2024	$	1,242		$	—		$	1,242
Current restructuring liabilities	$	1,242		$	—		$	1,242

The following table sets forth the restructuring activity and balance of the restructuring liability accounts, which are included in accrued liabilities and other short-term obligations on the Condensed Consolidated Balance Sheets for the nine months ended July 29, 2023 (in thousands):


	Workforce reduction			Other restructuring activities			Total
Balance at October 29, 2022	$	1,215		$	4,620		$	5,835
Charges	4,509		(1)	12,116		(2)	16,625


Cash payments	(4,920)			(16,736)			(21,656)
Balance at July 29, 2023	$	804		$	—		$	804
Current restructuring liabilities	$	804		$	—		$	804

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 27, 2024	Jul. 29, 2023	Jul. 27, 2024	Jul. 29, 2023
Net income	$ 14,230	$ 29,733	$ 46,928	$ 163,628
Unrealized gain on available-for-sale securities, net of tax	775	378	493	2,075
Change in cumulative translation adjustments	(4,686)	10,151	2,961	17,981
Other comprehensive income (loss)	(18,463)	27,977	(2,425)	34,867
Total comprehensive income (loss)	(4,233)	57,710	44,503	198,495
Unrealized gain (loss) on foreign currency forward contracts, net of tax
Change in unrealized gain (loss) on cash flow hedges, net of tax	(872)	5,124	3,736	9,314
Unrealized gain (loss) on interest rate swaps, net of tax
Change in unrealized gain (loss) on cash flow hedges, net of tax	$ (13,680)	$ 12,324	$ (9,615)	$ 5,497

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

REVENUE - Contract Balances (Details) - USD ($) $ in Thousands	Jul. 27, 2024	Oct. 28, 2023
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 899,877	$ 1,003,876
Contract assets for unbilled accounts receivable, net	142,769	150,312
Deferred revenue	$ 257,085	$ 228,460

REVENUE - Revenue by Major Customers (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 27, 2024	Jul. 29, 2023	Jul. 27, 2024	Jul. 29, 2023
Revenue, Major Customer [Line Items]
Total revenue	$ 942,308	$ 1,067,886	$ 2,890,843	$ 3,257,062
Cloud Provider \| Revenue \| Customer Concentration Risk
Revenue, Major Customer [Line Items]
Total revenue	137,184	124,897	331,631	369,678
AT&T \| Revenue \| Customer Concentration Risk
Revenue, Major Customer [Line Items]
Total revenue	113,082		324,787	357,382
Total \| Revenue \| Customer Concentration Risk
Revenue, Major Customer [Line Items]
Total revenue	$ 250,266	$ 124,897	$ 656,418	$ 727,060

- Definition

+ References

+ Details

STOCKHOLDERS’ EQUITY	9 Months Ended
STOCKHOLDERS’ EQUITY	Jul. 27, 2024
Equity [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY Stock Repurchase Program On December 9, 2021, Ciena announced that its Board of Directors authorized a program to repurchase up to $1.0 billion of its common stock. Under this program, during the first nine months of fiscal 2024, Ciena repurchased an additional 2.4 million shares of its common stock for an aggregate purchase price of approximately $118.0 million which equates to an average price of $48.86 per share. As of July 27, 2024, Ciena (i) has repurchased 16.5 million shares for an aggregate purchase price of $868.0 million at an average price of $52.54 per share and (ii) has an aggregate of $132.0 million authorized and remaining under its stock repurchase program. Ciena is required to allocate the purchase price for the shares of Ciena’s stock repurchased as a reduction of common stock and additional paid-in capital. Stock Repurchases Related to Stock Unit Award Tax Withholdings Ciena repurchases shares of its common stock to satisfy employee tax withholding obligations due on vesting of stock unit awards. The related purchase price of $33.4 million for the shares of Ciena’s stock repurchased during the first nine months of fiscal 2024 is reflected as a reduction to stockholders’ equity. Ciena is required to allocate the purchase price of the repurchased shares as a reduction of common stock and additional paid-in capital.

- Definition

The entire disclosure for equity.

+ References

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+ Details

OTHER BALANCE SHEET DETAILS - Accrued Warranty (Details) - USD ($) $ in Thousands	9 Months Ended
	Jul. 27, 2024	Jul. 29, 2023
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning Balance	$ 57,089	$ 45,503
Current Period Provisions	14,708	18,860
Settlements	(21,864)	(14,859)
Ending Balance	$ 49,933	$ 49,504