0000936395-24-000044 | 10-K | XBRL Viewer

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LEASES - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES - Lease Cost (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Leases [Abstract]
Operating lease costs	$ 13,595	$ 16,080	$ 17,966
Finance lease cost:
Amortization of finance ROU asset	4,406	4,448	4,592
Interest on finance lease liabilities	3,769	4,069	4,601
Total finance lease cost	8,175	8,517	9,193
Non-capitalized lease cost	954	910	917
Variable lease cost	2,562	3,421	5,898
Net lease cost	25,286	28,928	33,974
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Amortization	$ 5,300	$ 6,500	$ 12,800

EARNINGS PER SHARE CALCULATION (Tables)

12 Months Ended

Nov. 02, 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 (in thousands except per share amounts):


	Year Ended
	November 2, 2024		October 28, 2023		October 29, 2022
Net income	$	83,956	$	254,827	$	152,902
Basic weighted average shares outstanding	144,715		148,971		151,208
Effect of dilutive potential common shares	1,249		409		985
Diluted weighted average shares outstanding	145,964		149,380		152,193
Basic EPS	$	0.58	$	1.71	$	1.01
Diluted EPS	$	0.58	$	1.71	$	1.00
Antidilutive employee share-based awards, excluded	1,057		2,675		1,370

EARNINGS PER SHARE CALCULATION

12 Months Ended

Nov. 02, 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 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 (in thousands except per share amounts):


	Year Ended
	November 2, 2024		October 28, 2023		October 29, 2022
Net income	$	83,956	$	254,827	$	152,902
Basic weighted average shares outstanding	144,715		148,971		151,208
Effect of dilutive potential common shares	1,249		409		985
Diluted weighted average shares outstanding	145,964		149,380		152,193
Basic EPS	$	0.58	$	1.71	$	1.01
Diluted EPS	$	0.58	$	1.71	$	1.00
Antidilutive employee share-based awards, excluded	1,057		2,675		1,370

BUSINESS COMBINATIONS - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023	Dec. 30, 2022	Nov. 01, 2021
Business Acquisition [Line Items]
Goodwill	$ 444,707	$ 444,765
Benu and Tibit
Business Acquisition [Line Items]
Cash and cash equivalents			$ 14,634
Accounts receivable, net			443
Inventories, net			1,406
Prepaid expenses and other			810
Equipment, furniture and fixtures			1,090
Goodwill			116,644
Deferred tax asset, net			(26,429)
Accounts payable			(420)
Accrued liabilities and other short-term obligations			(874)
Deferred revenue			(851)
Other long-term obligations			(144)
Total purchase consideration			291,689
Benu and Tibit \| Developed technology
Business Acquisition [Line Items]
Intangible assets			75,400
Benu and Tibit \| In-process technology
Business Acquisition [Line Items]
Intangible assets			89,100
Benu and Tibit \| Customer relationships and contracts
Business Acquisition [Line Items]
Intangible assets			18,400
Benu and Tibit \| Order backlog
Business Acquisition [Line Items]
Intangible assets			$ 2,480
Vyatta And Xelic
Business Acquisition [Line Items]
Cash and cash equivalents				$ 201
Prepaid expenses and other				1,614
Equipment, furniture and fixtures				694
Goodwill				17,698
Accrued liabilities and other short-term obligations				(4,434)
Total purchase consideration				64,064
Vyatta And Xelic \| Developed technology
Business Acquisition [Line Items]
Intangible assets				32,491
Vyatta And Xelic \| Customer relationships and contracts
Business Acquisition [Line Items]
Intangible assets				$ 15,800

SHARE-BASED COMPENSATION EXPENSE (Tables)

12 Months Ended

Nov. 02, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Assumptions for Awards Granted

Assumptions for awards granted during fiscal 2024, fiscal 2023 and fiscal 2022 included the following:


	Year Ended
	November 2, 2024	October 28, 2023	October 29, 2022
Expected volatility of Ciena common stock, which is a weighted average of implied volatility and historical volatility	36.00%	40.37%	38.27%
Historical volatility of Ciena common stock	36.74%	43.11%	42.17%
Volatility of S&P Networking Index(1)	44.94%	30.93%	27.22%
Correlation coefficient	0.3665	0.7781	0.7049
Expected life in years	2.89	2.89	2.89
Risk-free interest rate	4.41%	3.95%	0.94%
Expected dividend yield	0.0%	0.0%	0.0%

(1) For fiscal 2023 and fiscal 2022, reflects the volatility of the S&P Networking Index as a whole. For fiscal 2024, reflects the volatility of the median company within the S&P Networking Index as of the date of the award, measured as of the last day of fiscal 2023.

Schedule of Restricted Stock Unit Activity

The following table is a summary of Ciena’s restricted stock unit activity for the period indicated, with the aggregate fair value of the balance outstanding at the end of each period, based on Ciena’s closing stock price on the last trading day of the relevant period (shares and aggregate fair value in thousands):


	Restricted Stock Units Outstanding	Weighted Average Grant Date Fair Value Per Share		Aggregate Fair Value
Balance at October 28, 2023	4,922	$	53.42	$	201,916
Granted	4,080

Vested	(2,382)
Canceled or forfeited	(508)
Balance at November 2, 2024	6,112	$	48.41	$	390,995

Schedule of Share-based Compensation Expense

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


	Year Ended
	November 2, 2024		October 28, 2023		October 29, 2022
Products	$	6,474	$	4,518	$	3,867
Services	12,743		10,470		7,533
Share-based compensation expense included in cost of goods sold	19,217		14,988		11,400
Research and development	54,129		42,331		31,879
Sales and marketing	42,954		35,136		31,280
General and administrative	40,053		37,587		30,435

Share-based compensation expense included in operating expense	137,136		115,054		93,594
Share-based compensation expense capitalized in inventory, net	51		413		137
Total share-based compensation	$	156,404	$	130,455	$	105,131

REVENUE - Revenue by Major Customers (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Revenue, Major Customer [Line Items]
Total revenue	$ 4,014,955	$ 4,386,549	$ 3,632,661
Cloud Provider \| Revenue \| Customer Concentration Risk
Revenue, Major Customer [Line Items]
Total revenue	532,332	561,397
AT&T \| Revenue \| Customer Concentration Risk
Revenue, Major Customer [Line Items]
Total revenue	475,261	464,662	433,418
Verizon \| Revenue \| Customer Concentration Risk
Revenue, Major Customer [Line Items]
Total revenue			402,787
Total \| Revenue \| Customer Concentration Risk
Revenue, Major Customer [Line Items]
Total revenue	$ 1,007,593	$ 1,026,059	$ 836,205

- 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).

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+ Details

STOCKHOLDERS’ EQUITY	12 Months Ended
STOCKHOLDERS’ EQUITY	Nov. 02, 2024
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Stock Repurchase Program and Accelerated Share Repurchase Agreement On December 9, 2021, Ciena announced that its Board of Directors replaced its previously authorized program with a program to repurchase up to $1.0 billion of its common stock. On December 13, 2021, Ciena entered into an accelerated share repurchase agreement (the “ASR Agreement”) with Goldman, Sachs & Co. LLC (“Goldman”) to repurchase $250.0 million (the “Repurchase Price”) of its common stock as part of the repurchase program. Under the terms of the ASR Agreement, Ciena paid the Repurchase Price to Goldman, and received approximately 3.6 million shares of its common stock from Goldman, calculated based on the average of the volume-weighted average prices of Ciena’s common stock of $69.78 for the period from December 14, 2021 to February 11, 2022, less a discount, which completed the repurchases contemplated by the ASR Agreement. Shares repurchased pursuant to the ASR Agreement were immediately retired upon receipt. During the remainder of fiscal 2022, Ciena repurchased an additional 4.8 million shares of its common stock, for an aggregate purchase price of $250.0 million, at an average price of $51.53 per share. During fiscal 2023, Ciena repurchased an additional 5.7 million shares of its common stock, for an aggregate purchase price of $250.0 million at an average price of $44.08 per share. During fiscal 2024, Ciena repurchased an additional 4.5 million shares of its common stock, for an aggregate purchase price of $250.0 million at an average price of $55.07 per share, which completed the authorized repurchases contemplated under the program. In aggregate, Ciena repurchased 18.6 million shares for an aggregate purchase price of $1.0 billion, at an average price of $53.63 per share. On October 2, 2024, Ciena announced that its Board of Directors authorized a program to repurchase up to $1.0 billion of its common stock, commencing in Ciena’s fiscal year 2025 and continuing through the end of Ciena’s fiscal year 2027. Ciena may purchase shares at management’s discretion in the open market, in privately negotiated transactions, in transactions structured through investment banking institutions, or a combination of the foregoing. Ciena may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases of its shares under this authorization. The amount and timing of repurchases are subject to a variety of factors including liquidity, cash flow, stock price, and general business and market conditions. The program may be modified, suspended or discontinued at any time. The purchase price for the shares of Ciena’s stock repurchased is reflected as a reduction of common stock and additional paid-in capital. Impact of Inflation Reduction Act 1% Excise Tax on Share Repurchases Beginning fiscal 2023, a 1% excise tax on the market value of shares repurchased offset by 1% of the market value of shares issued was implemented. During fiscal 2023, a net excise tax of $1.5 million was recorded to additional paid-in capital on the Consolidated Balance Sheets. During fiscal 2024, a net excise tax of $1.4 million was recorded to additional paid-in capital on the Consolidated Balance Sheets. Stock Repurchases Related to Restricted Stock Unit Tax Withholdings Ciena repurchases shares of common stock to satisfy employee tax withholding obligations due upon vesting of stock unit awards. The related purchase price of $46.6 million for the shares of Ciena’s stock repurchased during 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.

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+ Details

ACCOUNTS RECEIVABLE (Details) - USD ($) $ in Thousands		12 Months Ended
ACCOUNTS RECEIVABLE (Details) - USD ($) $ in Thousands	Mar. 07, 2022	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period		$ 11,654	$ 10,958	$ 10,912
Provision for doubtful accounts		7,996	5,718	4,199
Net Deductions		9,770	5,022	4,153
Balance at end of period		9,880	11,654	10,958
Interest and other income, net		97,028	88,026	47,050
Factoring Receivables
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Gross amount of trade account receivable sold		18,100	60,300	11,800
Settlements through customer paying agent arrangements		32,500	41,900	13,400
Interest and other income, net		$ 1,200	$ 3,800	$ 900
Russia
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Provision for doubtful accounts	$ 1,800
Unidentified Customer One \| Customer Concentration Risk \| Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage		13.00%	11.00%
Unidentified Customer Two \| Customer Concentration Risk \| Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage		12.00%	10.00%

PREPAID EXPENSES AND OTHER (Tables)

12 Months Ended

Nov. 02, 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):


	November 2, 2024		October 28, 2023
Cash advances to contract manufacturers (1)	$	167,337	$	—
Contract assets for unbilled accounts receivable, net	127,919		150,312
Prepaid VAT and other taxes	106,095		96,724
Prepaid expenses	50,597		58,954
Other non-trade receivables	45,935		33,408
Product demonstration equipment, net (2)	43,245		40,682
Capitalized contract acquisition costs	20,310		23,326
Foreign currency forward contracts	2,149		1,118
Deferred deployment expense	596		1,170


	$	564,183	$	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 $8.3 million, $8.0 million and $8.7 million for fiscal 2024, 2023 and 2022, respectively.

OTHER EMPLOYEE BENEFIT PLANS	12 Months Ended
OTHER EMPLOYEE BENEFIT PLANS	Nov. 02, 2024
Retirement Benefits [Abstract]
OTHER EMPLOYEE BENEFIT PLANS	OTHER EMPLOYEE BENEFIT PLANS Ciena has a Defined Contribution Pension Plan that covers a majority of its Canada-based employees. The plan covers all Canada-based employees who are not part of an excluded group. Total contributions (employee and employer) cannot exceed the lesser of 18% of participant earnings and an annual dollar limit of CAD$32,490 (approximately $23,284 for 2024). This plan includes a required employer contribution of 1% for all participants and an employer matching contribution equal to 50% of the first 6% an employee contributes each pay period. During fiscal 2024, 2023 and 2022, Ciena made matching contributions of approximately CAD$11.6 million (approximately $8.3 million), CAD$10.6 million (approximately $7.6 million) and CAD$10.1 million (approximately $7.2 million), respectively. Ciena has a 401(k) defined contribution profit sharing plan that covers a majority of its United States-based employees. Participants may contribute up to 60% of base pay through pre-tax or Roth contributions, subject to certain limitations. The plan includes an employer matching contribution equal to 50% of the first 8% an employee contributes each pay period. Ciena may also make discretionary annual profit contributions up to the IRS regulated limit. Ciena has made no profit sharing contributions to date. During fiscal 2024, 2023 and 2022, Ciena made matching contributions of approximately $11.0 million, $10.4 million and $9.2 million, respectively.

LEASES - Weighted Average Remaining Lease Terms and Discount Rates (Details)	Nov. 02, 2024	Oct. 28, 2023
Weighted-average remaining lease term in years:
Operating leases	4 years	4 years 25 days
Finance leases	7 years 8 months 15 days	8 years 8 months 15 days
Weighted-average discount rates:
Operating leases	4.29%	3.88%
Finance leases	7.56%	7.56%

INTANGIBLE ASSETS

12 Months Ended

Nov. 02, 2024

Intangible Assets, Net (Excluding Goodwill) [Abstract]

INTANGIBLE ASSETS

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


	November 2, 2024						October 28, 2023
	Gross Intangible		Accumulated Amortization		Net Intangible		Gross Intangible		Accumulated Amortization		Net Intangible
Developed technology	$	503,618	$	(442,345)	$	61,273	$	503,618	$	(414,941)	$	88,677
In-process research and development	89,100		—		89,100		89,100		—		89,100
Patents and licenses	8,795		(6,150)		2,645		8,795		(5,203)		3,592
Customer relationships, covenants not to compete, outstanding purchase orders and contracts	410,934		(398,932)		12,002		410,983		(386,725)		24,258
Total intangible assets	$	1,012,447	$	(847,427)	$	165,020	$	1,012,496	$	(806,869)	$	205,627

The aggregate amortization expense of intangible assets was $40.6 million, $49.6 million and $44.3 million for fiscal 2024, fiscal 2023 and fiscal 2022, respectively. Expected future amortization of intangible assets for the fiscal years indicated is as follows (in thousands):


Fiscal Year	Amount (1)
2025	$	34,576
2026	23,348
2027	15,843
2028	1,991
2029	126
Thereafter	36
	$	75,920

(1) Does not include amortization of in-process research and development, as estimation of the timing of future amortization expense would be impractical.

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

12 Months Ended

Nov. 02, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Short-term and Long-term Investments

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


	November 2, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
U.S. government obligations	$	285,492	$	751	$	(62)	$	286,181
Corporate debt securities	111,103		137		(97)		111,143
Time deposits	92,803		4		(3)		92,804
	$	489,398	$	892	$	(162)	$	490,128

Included in cash equivalents	$	92,865	$	—	$	—	$	92,865
Included in short-term investments	315,654		734		(45)		316,343
Included in long-term investments	80,879		158		(117)		80,920
	$	489,398	$	892	$	(162)	$	490,128


	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 legal maturities of debt investments at November 2, 2024 (in thousands):


	November 2, 2024
	Amortized Cost		Estimated Fair Value
Less than one year	$	408,519	$	409,208
Due in 1-2 years	80,879		80,920
	$	489,398	$	490,128

EQUIPMENT, BUILDING, FURNITURE AND FIXTURES (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Property, Plant and Equipment, Net [Abstract]
Equipment, building, furniture and fixtures	$ 933,749	$ 818,780
Accumulated depreciation and amortization	(596,027)	(538,633)
Equipment, building, furniture and fixtures, net	337,722	280,147
Equipment, furniture and fixtures
Property, Plant and Equipment, Net [Abstract]
Equipment, building, furniture and fixtures	788,781	676,485
Building subject to finance lease
Property, Plant and Equipment, Net [Abstract]
Equipment, building, furniture and fixtures	67,517	67,904
Leasehold improvements
Property, Plant and Equipment, Net [Abstract]
Equipment, building, furniture and fixtures	77,451	74,391
Equipment, Building, Furniture and Fixtures
Property, Plant and Equipment, Net [Abstract]
Depreciation of equipment, furniture and fixtures, and amortization of leasehold improvements	$ 84,500	$ 84,600	$ 87,200

SUBSEQUENT EVENTS (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Dec. 13, 2024	Nov. 02, 2024
Subsequent Event [Line Items]
Repurchase of common stock under the stock repurchase program (in shares)		18,600,000
Repurchase of common stock under the stock repurchase program (in shares)		$ 1,000.0
Subsequent Event
Subsequent Event [Line Items]
Repurchase of common stock under the stock repurchase program (in shares)	540,521
Repurchase of common stock under the stock repurchase program (in shares)	$ 38.3
Repurchase of common stock under the stock repurchase program (in dollars per share)	$ 70.82
Authorized funds under stock repurchase program	$ 961.7

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

INCOME TAXES - Effective Income Tax Rate (Details) - USD ($) $ in Millions	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Income tax rate reconciliation:
Provision at statutory rate	21.00%	21.00%	21.00%
State taxes	5.60%	1.65%	2.31%
Withholding and other foreign taxes	3.53%	(0.09%)	(1.37%)
Foreign earnings and profits repatriated	$ 415.0
Research and development credit	(40.23%)	(16.78%)	(23.66%)
Non-deductible compensation	13.92%	5.29%	5.26%
U.S. Taxation on foreign activity	9.59%	5.08%	1.73%
Foreign Nontaxable interest	(2.96%)	(1.06%)	(1.90%)
Taxation on foreign inflation	3.03%	1.34%	1.41%
Rate change	4.46%	(3.71%)	1.27%
Valuation allowance	2.15%	9.44%	8.35%
Loss on equity transactions	0.00%	(1.72%)	0.00%
Uncertain tax positions	8.09%	1.72%	1.62%
Other	1.77%	(0.89%)	0.20%
Effective income tax rate	29.95%	21.27%	16.22%

CIENA CORPORATION AND SIGNIFICANT ACCOUNTING POLICIES AND ESTIMATES (Policies)	12 Months Ended
	Nov. 02, 2024
Accounting Policies [Abstract]
Principles of Consolidation	The accompanying consolidated financial statements include the accounts of Ciena and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Fiscal Year	Ciena has a 52 or 53-week fiscal year, which ends on the Saturday nearest to the last day of October in each year (November 2, 2024, October 28, 2023, and October 29, 2022, for the periods reported). Fiscal 2024 was a 53-week fiscal year with the additional week occurring in the fourth quarter. Fiscal 2023 and fiscal 2022 each consisted of a 52-week fiscal year.
Business Combinations	Ciena records acquisitions using the purchase method of accounting. The assets acquired, liabilities assumed, contractual contingencies, and contingent consideration are recognized at their fair value as of the acquisition date. The excess of the purchase price over the estimated fair values of the net tangible and net intangible assets acquired is recorded as goodwill. The application of the purchase method of accounting for business combinations requires management to make significant estimates and assumptions in the determination of the fair value of assets acquired and liabilities assumed, in order to properly allocate purchase price consideration between assets that are depreciated and amortized from goodwill. These assumptions and estimates include a market participant’s use of the asset and the appropriate discount rates for a market participant. Ciena’s estimates are based on historical experience, information obtained from the management of the acquired companies and, when appropriate, include assistance from independent third-party appraisal firms. Significant assumptions and estimates can include, but are not limited to, the cash flows that an asset is expected to generate in the future, the appropriate weighted-average cost of capital and the cost savings expected to be derived from acquiring an asset. These estimates are inherently uncertain and unpredictable. In addition, unanticipated events and circumstances may occur which may affect the accuracy or validity of such estimates.
Use of Estimates	The preparation of the financial statements and related disclosures in conformity with Generally Accepted Accounting Principles (“GAAP”) requires management to make estimates and judgments that affect the amounts reported in the consolidated financial statements and accompanying notes. Estimates are used for selling prices for multiple element arrangements, shared-based compensation, bad debts, valuation of inventories and investments, recoverability of intangible assets, other long-lived assets and goodwill, income taxes, warranty obligations, restructuring liabilities, derivatives, contingencies and litigation. Ciena bases its estimates on historical experience and assumptions that it believes are reasonable. Actual results may differ materially from management’s estimates.
Cash and Cash Equivalents	Ciena considers all highly liquid investments purchased with original maturities of three months or less to be cash equivalents. Restricted cash collateralizing letters of credit are included in other current assets and other long-term assets, depending on the duration of the restriction.
Investments	Ciena’s investments in debt securities are classified as available-for-sale and reported at fair value, with unrealized gains and losses recorded in accumulated other comprehensive loss. Ciena recognizes losses in the income statement when it determines that declines in the fair value of its investments below their cost basis are other-than-temporary. In determining whether a decline in fair value is other-than-temporary, Ciena considers various factors, including market price (when available), investment ratings, the financial condition and near-term prospects of the investee, the length of time and the extent to which the fair value has been less than Ciena’s cost basis, and Ciena’s intent and ability to hold the investment until maturity or for a period of time sufficient to allow for any anticipated recovery in market value. Ciena considers all marketable debt securities that it expects to convert to cash within one year or less to be short-term investments, with all others considered to be long-term investments. Ciena has minority equity investments in privately held technology companies that are classified in other long-term assets. These investments are carried at cost because Ciena owns less than 20% of the voting equity and does not have the ability to exercise significant influence over the company. Ciena monitors these investments for impairment and makes appropriate reductions to the carrying value when necessary. As of November 2, 2024, the combined carrying value of these investments was $21.7 million. Ciena elects to estimate the fair value at cost minus impairment, if any, plus or minus observable price changes in orderly transactions for identical or similar investments of the same issuer. Ciena evaluates these investments for impairment or observable price changes quarterly and records adjustments to interest and other income, net on the Consolidated Statements of Operations.
Inventories	Inventories are stated at the lower of cost or market, with cost computed using standard cost, which approximates actual cost, on a first-in, first-out basis. Ciena records a provision for excess and obsolete inventory when an impairment has been identified.
Segment Reporting	Ciena’s chief operating decision maker, its chief executive officer, evaluates the Company’s performance and allocates resources based on multiple factors, including measures of segment profit (loss). Operating segments are defined as components of an enterprise that engage in business activities that earn revenue and incur expense, for which discrete financial information is available, and for which such information is evaluated regularly by the chief operating decision maker for purposes of allocating resources and assessing performance. 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.
Goodwill	Goodwill is the excess of the purchase price over the fair values assigned to the net assets acquired in a business combination. Ciena tests goodwill for impairment on an annual basis, which it has determined to be the last business day of fiscal September each year. Ciena also tests goodwill for impairment between annual tests if an event occurs or circumstances change that would, more likely than not, reduce the fair value of the reporting unit below its carrying value. Annually, Ciena tests goodwill impairment qualitatively, or quantitatively by comparing the fair value of the reporting unit with the unit’s carrying amount, including goodwill. If this test indicates that the fair value is less than the carrying value, then an impairment loss is recognized limited to the total amount of goodwill allocated to that reporting unit. A non-cash goodwill impairment charge would have the effect of decreasing earnings or increasing losses in such period. If Ciena is required to take a substantial impairment charge, its operating results would be materially adversely affected in such period.
Long-lived Assets	Long-lived assets include equipment, building, furniture and fixtures, operating right-of-use (“ROU”) assets, finite-lived intangible assets and maintenance spares. Ciena tests long-lived assets for impairment whenever triggering events or changes in circumstances indicate that the asset’s carrying amount is not recoverable from its undiscounted cash flows. An impairment loss is measured as the amount by which the carrying amount of the asset or asset group exceeds its fair value. Ciena’s long-lived assets are assigned to asset groups that represent the lowest level for which cash flows can be identified.
Equipment, Building, Furniture and Fixtures and Internal Use Software	Equipment, building, furniture and fixtures are recorded at cost. Depreciation and amortization are computed using the straight-line method, generally over useful lives of three years to five years for equipment and furniture and fixtures and the shorter of useful life or lease term for leasehold improvements. Qualifying internal use software and website development costs incurred during the application development stage, which consist primarily of outside services and purchased software license costs, are capitalized and amortized straight-line over the estimated useful lives of two years to five years.
Leases	At the inception of a contract, Ciena must determine whether the contract is or contains a lease. The contract is or contains a lease if the contract conveys the right to control the use of the property, plant, or equipment for a designated term in exchange for consideration. Ciena’s evaluation of its contracts follows the assessment of whether there is a right to obtain substantially all of the economic benefits from the use and the right to direct the use of the identified asset in the contract. Operating leases are included in the Operating ROU assets, Operating lease liabilities and Long-term operating lease liabilities on the Consolidated Balance Sheets. Finance leases are included in Equipment, building, furniture and fixtures, net (“Finance ROU assets”), Accrued liabilities and other short-term obligations and Other long-term obligations on the Consolidated Balance Sheets. Ciena has operating and finance leases that primarily relate to real property. Ciena has elected not to capitalize leases with a term of 12 months or less without a purchase option that it is likely to exercise. Ciena has elected not to separate lease and non-lease components of operating and finance leases. Lease components are payment items directly attributable to the use of the underlying asset, while non-lease components are explicit elements of a contract not directly related to the use of the underlying asset, including pass-through operating expenses, such as common area maintenance and utilities. Operating ROU assets and lease liabilities and Finance ROU assets and lease liabilities are recognized on the Consolidated Balance Sheets at the present value of the future lease payments over the life of the lease term. Ciena uses discount rates based on incremental borrowing rates, on a collateralized basis, for the respective underlying assets, for terms similar to the respective leases when implicit rates for leases are not determinable. Operating lease costs are included as rent expense in the Consolidated Statements of Operations. Fixed base payments on operating leases paid directly to the lessor are recorded as lease expense on a straight-line basis. Related variable payments based on usage, changes in an index, or market rate are expensed as incurred. Finance ROU assets are generally amortized on a straight-line basis over the lease term with the interest expense on the lease liability recorded using the interest method. The amortization and interest expense are recorded separately in the Consolidated Statements of Operations.
Intangible Assets	Ciena records finite-lived intangible assets from acquisitions. Finite-lived intangible assets are carried at cost less accumulated amortization. Amortization is computed using the straight-line method over the expected economic lives of the respective assets, up to seven years, which approximates the use of intangible assets.
Cloud Computing Arrangements	Ciena capitalizes certain costs related to hosting arrangements that are service contracts (cloud computing arrangements). Capitalized costs are included in Other long-term assets on the Consolidated Balance Sheets and are amortized on a straight-line basis over the estimated useful life.
Maintenance Spares	Maintenance spares are recorded at cost. Ciena depreciates spares ratably over four years.
Concentrations	Substantially all of Ciena’s cash and cash equivalents are maintained at a small number of major U.S. financial institutions. The majority of Ciena’s cash equivalents consist of money market funds. Deposits held with banks may exceed the amount of insurance provided on such deposits. Because these deposits generally may be redeemed upon demand, management believes that they bear minimal risk. Historically, a significant percentage of Ciena’s revenue has been concentrated among sales to a small number of large communications service providers and cloud providers. Consolidation among Ciena’s customers has increased this concentration. Consequently, Ciena’s accounts receivable are concentrated among these customers. See Note 2 below. Ciena’s access to certain materials or components is dependent on sole or limited source suppliers. The inability of any of these suppliers to fulfill Ciena’s supply requirements, or significant changes in supply cost, could affect future results. Ciena relies on a small number of contract manufacturers to perform the majority of the manufacturing for its products. If Ciena cannot effectively manage these manufacturers or forecast future demand, or if these manufacturers fail to deliver products or components on time, Ciena’s business and results of operations may suffer.
Revenue Recognition	Ciena recognizes revenue when control of the promised products or services is transferred to its customer, in an amount that reflects the consideration to which Ciena expects to be entitled in exchange for those products or services. Ciena determines revenue recognition by applying the following five-step approach: •identification of the contract, or contracts, with a customer; •identification of the performance obligations in the contract; •determination of the transaction price; •allocation of the transaction price to the performance obligations in the contract; and •recognition of revenue when, or as, Ciena satisfies a performance obligation. Generally, Ciena makes sales pursuant to purchase orders placed by customers under framework agreements that govern the general commercial terms and conditions of the sale of Ciena’s products and services. These purchase orders under framework agreements are used to determine the identification of the contract or contracts with this customer. Purchase orders typically include the description, quantity, and price of each product or service purchased. Purchase orders may include one-line bundled pricing for both products and services. Accordingly, purchase orders can include various combinations of products and services that are generally distinct and accounted for as separate performance obligations. Ciena evaluates each promised product and service offering to determine whether it represents a distinct performance obligation. In doing so, Ciena considers, among other things, customary business practices, whether the customer can benefit from the product or service on its own or together with other resources that are readily available, and whether Ciena’s commitment to transfer the product or service to the customer is separately identifiable from other obligations in the purchase order. For transactions where Ciena delivers the product or services, Ciena is typically the principal and records revenue and costs of goods sold on a gross basis. Purchase orders are invoiced based on the terms set forth either in the purchase order or the framework agreement, as applicable. Generally, sales of products and software licenses are invoiced upon shipment or delivery. Maintenance and software subscription services are invoiced quarterly or annually in advance of the service term. Ciena’s other service offerings are generally invoiced upon completion of the service. Payment terms and cash received typically range from 30 to 90 days from the invoicing date. Historically, Ciena has not provided any material financing arrangements to its customers. As a practical expedient, Ciena does not adjust the amount of consideration it will receive for the effects of a significant financing component as it expects, at contract inception, that the period between Ciena’s transfer of the products or services to the customer and customer payment for the products or services will be one year or less. Shipping and handling fees invoiced to customers are included in revenue, with the associated expense included in product cost of goods sold. Ciena records revenue net of any associated sales taxes. Ciena recognizes revenue upon the transfer of control of promised products or services to a customer. Transfer of control occurs once the customer has the contractual right to use the product, generally upon shipment or delivery to the customer. Transfer of control can also occur over time for services, such as software subscription, maintenance, installation, and various professional services as the customer receives the benefit over the contract term. Significant Judgments Revenue is allocated among performance obligations based on standalone selling price (“SSP”). SSP reflects the price at which Ciena would expect to sell that product or service on a stand-alone basis at contract inception and that Ciena would expect to be entitled to receive for the promised products or services. SSP is estimated for each distinct performance obligation, and judgment may be required in its determination. The best evidence of SSP is the observable price of a product or service when Ciena sells the products separately in similar circumstances and to similar customers. In instances where SSP is not directly observable, Ciena determines SSP using information that may include market conditions and other observable inputs. Ciena applies judgment in determining the transaction price, as Ciena may be required to estimate variable consideration when determining the amount of revenue to recognize. Variable consideration can include various rebate, cooperative marketing, and other incentive programs that Ciena offers to its distributors, partners and customers. When determining the amount of revenue to recognize, Ciena estimates the expected usage of these programs, applying the expected value or most likely estimate and updates the estimate at each reporting period as actual utilization data becomes available. Ciena also considers any customer right of return and any actual or potential payment of liquidated damages, contractual or similar penalties, or other claims for performance failures or delays in determining the transaction price, where applicable. When transfer of control is judged to be over time for installation and professional service arrangements, Ciena applies the input method to determine the amount of revenue to be recognized in a given period. Utilizing the input method, Ciena recognizes revenue based on the ratio of actual costs incurred to date to the total estimated costs expected to be incurred. Revenue for software subscription and maintenance is recognized ratably over the period during which the services are performed. Capitalized Contract Acquisition Costs Ciena capitalizes and amortizes incremental costs of obtaining a contract considering each customer purchase in combination with the corresponding framework agreement, if applicable, as a contract. Ciena elected to implement the practical expedient, which allows for incremental costs to be recognized as an expense when incurred if the period of the asset recognition is one year or less. If the period of the asset recognition is greater than one year, Ciena amortizes these costs over the period of performance. Ciena considers sales commissions incurred upon receipt of purchase orders placed by customers as incremental costs to obtain such purchase orders. The practical expedient method is applied to the purchase order as a whole, and thus the capitalized costs of obtaining a purchase order is applied, even if the purchase order contains more than one performance obligation. In cases where a purchase order includes various distinct products or services with both short-term (one year or less) and long-term (more than a year) performance periods, the cost of commissions incurred for the total value of the purchase order is capitalized and subsequently amortized as each performance obligation is recognized.
Warranty Accruals	Ciena provides for the estimated costs to fulfill customer warranty obligations upon recognition of the related revenue. Estimated warranty costs include estimates for material costs, technical support labor costs and associated overhead. Warranty is included in cost of goods sold and is determined based on actual warranty cost experience, estimates of component failure rates and management’s industry experience. Ciena’s sales contracts do not permit the right of return of the product by the customer after the product has been accepted.
Allowance for Credit Losses for Accounts Receivable and Contract Assets	Ciena estimates its allowances for credit losses using relevant available information from internal and external sources, related to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. When assessing for credit losses, Ciena determines collectability by pooling assets with similar characteristics. The allowances for credit losses are each measured on a collective basis when similar risk characteristics exist. The allowances for credit losses are each measured by multiplying the exposure probability of default (the probability that the asset will default within a given time frame) by the loss given default rate (the percentage of the asset not expected to be collected due to default) based on the pool of assets. Probability of default rates is published by third-party credit rating agencies. Adjustments to Ciena’s exposure probability may take into account a number of factors, including, but not limited to, various customer-specific factors, the potential sovereign risk of the geographic locations in which the customer is operating, and macroeconomic conditions. These factors are updated regularly or when facts and circumstances indicate that an update is deemed necessary. Accounts Receivable Factoring Ciena has entered into factoring agreements to sell certain receivables to unrelated third-party financial institution on a non-recourse basis. These transactions result in a reduction in accounts receivable because the agreements transfer effective control over, and risk related to, the receivables to the buyers. Ciena's factoring agreements do not allow for recourse in the event of uncollectability, and Ciena does not retain any interest in the underlying accounts receivable once sold. Trade accounts receivables balances sold are removed from the consolidated balance sheets and cash received is reflected as cash provided by (used in) operating activities in the Consolidated Statements of Cash Flow. Factoring related interest expense is recorded to interest and other income, net on the Consolidated Statements of Operations.
Research and Development	Ciena charges all research and development costs to expense as incurred. Types of expense incurred in research and development include employee compensation, prototype equipment, consulting and third-party services, depreciation, facility costs and information technology.
Government Grants	Ciena accounts for proceeds from government grants as a reduction of expense when there is reasonable assurance that Ciena has met the required conditions associated with the grant and that grant proceeds will be received. Grant benefits are recorded to the particular line item of the Consolidated Statement of Operations to which the grant activity relates.
Advertising Costs	Ciena expenses all advertising costs as incurred.
Legal Costs	Ciena expenses legal costs associated with litigation as incurred.
Share-Based Compensation Expense	Ciena measures and recognizes compensation expense for share-based awards and employee stock purchases related to its Amended and Restated 2003 Employee Stock Purchase Plan (the “ESPP”) based on estimated fair values on the date of grant. Ciena estimates the fair value of employee stock purchases related to the ESPP using the Black-Scholes option-pricing model. Ciena recognizes the estimated fair value of restricted stock units subject only to service-based vesting conditions by multiplying the number of shares underlying the award by the closing price per share of Ciena common stock on the grant date. Share-based compensation expense for service-based restricted stock unit awards is recognized ratably over the vesting period on a straight-line basis in the Consolidated Statements of Operations. Awards with performance-based vesting conditions: (i) require the achievement of certain operational, financial or other performance criteria or targets; or (ii) vest based on Ciena’s total stockholder return as compared to an index of peer companies, in whole or in part. Ciena estimates the fair value of restricted stock units subject to performance-based vesting conditions, other than total stockholder return, by assuming the satisfaction of any performance-based objectives at the “target” level and multiplying the corresponding number of shares earned based upon such achievement by the closing price per share of Ciena common stock on the grant date. Share-based compensation expense, for performance-based restricted stock units other than total stockholder return, is recognized over the performance period, using graded vesting, which considers each performance period or tranche separately, based on Ciena’s determination of whether it is probable that the performance targets will be achieved and is included in the Consolidated Statements of Operations. At the end of each reporting period, Ciena reassesses the probability of achieving the performance targets and the performance period required to meet those targets. Share-based compensation expense for restricted stock units subject only to service-based vesting conditions and restricted stock units subject to performance-based vesting conditions other than total stockholder return, is recognized only for those awards that ultimately vest. In the event of a forfeiture of an award, the expense related to the unvested portion of that award is reversed. Ciena estimates the fair value of performance based awards subject to total stockholder return as compared to an index of peer companies using a Monte Carlo simulation valuation model on the date of grant and recognizes the related share-based compensation expense over the performance period. Ciena reverses share-based compensation expense on performance based awards subject to total stockholder return only when the requisite service period is not reached.
Stock Repurchase Program	Shares repurchased pursuant to Ciena’s stock repurchase program are immediately retired upon purchase. Repurchased common stock is reflected as a reduction of stockholders’ equity. Ciena’s accounting policy related to its share repurchases is to reduce its common stock based on the par value of the shares and to reduce its capital surplus for the excess of the repurchase price over the par value. Since the inception of its stock repurchase programs, Ciena has had an accumulated deficit balance, therefore, the excess over the par value has been applied to additional paid-in capital. Once Ciena has retained earnings, the excess will be charged entirely to retained earnings.
Income Taxes	Ciena accounts for income taxes using an asset and liability approach. This approach recognizes deferred tax assets and liabilities (“DTA”) for the expected future tax consequences attributable to differences between the carrying amounts of assets and liabilities for financial reporting purposes and their respective tax bases, and for operating loss and tax credit carryforwards. In estimating future tax consequences, Ciena considers all expected future events other than the enactment of changes in tax laws or rates. Valuation allowances are provided if, based on the weight of the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. In the ordinary course of business, transactions occur for which the ultimate outcome may be uncertain. In addition, tax authorities periodically audit Ciena’s income tax returns. These audits examine significant tax filing positions, including the timing and amounts of deductions and the allocation of income tax expenses among tax jurisdictions. Ciena is currently under audit in India for 2020 through 2023, in Canada for 2014, and in the United Kingdom for 2016 through 2022. Management does not expect the outcome of these audits to have a material adverse effect on Ciena’s consolidated financial position, results of operations or cash flows. Ciena’s major tax jurisdictions and the earliest open tax years are as follows: United States (2021), United Kingdom (2016), Canada (2014), and India (2020). Limited adjustments can be made to federal U.S. tax returns in earlier years in order to reduce net operating loss carryforwards. Ciena classifies interest and penalties related to uncertain tax positions as a component of income tax expense. Ciena is required to record excess tax benefits or tax deficiencies related to stock-based compensation as income tax benefit or expense when share-based awards vest or are settled. Ciena is electing to use the period cost method for future global intangible low-taxed income (“GILTI”) inclusions.
Loss Contingencies	Ciena is subject to the possibility of various losses arising in the ordinary course of business. These may relate to disputes, litigation and other legal actions. Ciena considers the likelihood of loss or the incurrence of a liability, as well as Ciena’s ability to estimate the amount of loss reasonably, in determining loss contingencies. An estimated loss contingency is accrued when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. Ciena regularly evaluates current information available to it in order to determine whether any accruals should be adjusted and whether new accruals are required.
Fair Value of Financial Instruments	The carrying value of Ciena’s cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximates fair market value due to the relatively short period of time to maturity. For information related to the fair value of Ciena’s short-term and long-term debt, see Note 18 below. Fair value for the measurement of financial assets and liabilities is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. Ciena utilizes a valuation hierarchy for disclosure of the inputs for fair value measurement. This hierarchy prioritizes the inputs into three broad levels as follows: •Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities; •Level 2 inputs are quoted prices for identical or similar assets or liabilities in less active markets or model-derived valuations in which significant inputs are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument; and •Level 3 inputs are unobservable inputs based on Ciena’s assumptions used to measure assets and liabilities at fair value. The fair values are determined based on model-based techniques using inputs Ciena could not corroborated with market data. By distinguishing between inputs that are observable in the marketplace, and therefore more objective, and those that are unobservable, and therefore more subjective, the hierarchy is designed to indicate the relative reliability of the fair value measurements. A financial asset’s or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.
Restructuring	From time to time, Ciena takes actions to align its workforce, facilities, and operating costs with perceived market opportunities, business strategies, and changes in market and business conditions, and to redesign business processes. Ciena recognizes a liability for the cost associated with an exit or disposal activity in the period in which the liability is incurred, except for one-time employee termination benefits related to a service period, typically of more than 60 days, which are accrued over the service period.
Foreign Currency	Certain of Ciena’s foreign branch offices and subsidiaries use the U.S. Dollar as their functional currency because Ciena Corporation, as the U.S. parent entity, exclusively funds the operations of these branch offices and subsidiaries. For those subsidiaries using the local currency as their functional currency, assets and liabilities are translated at exchange rates in effect at the balance sheet date, and the statement of operations is translated at a monthly average rate. Resulting translation adjustments are recorded directly to a separate component of stockholders’ equity. Where the monetary assets and liabilities are transacted in a currency other than the entity’s functional currency, re-measurement adjustments are recorded in interest and other income, net on the Consolidated Statements of Operations.
Derivatives	From time to time, Ciena uses foreign currency forward contracts to reduce variability in certain forecasted non-U.S. Dollar denominated cash flows. Generally, these derivatives have maturities of 24 months or less. Ciena also has interest rate swap arrangements to reduce variability in certain forecasted interest expense associated with its term loans. All of these derivatives are designated as cash flow hedges. Ciena also uses foreign currency forward contracts to minimize the effect of foreign exchange rate movements on its net investments in foreign operations. Generally, these derivatives have maturities of 24 months or less. These derivatives are designated as net investment hedges. At the inception of these hedges, and on an ongoing basis, Ciena assesses whether the derivative has been effective in offsetting changes attributable to the hedged risk during the hedging period. The derivative’s net gain or loss is initially reported as a component of accumulated other comprehensive loss and, upon occurrence of the forecasted transaction, is subsequently reclassified to the line item in the Consolidated Statements of Operations to which the hedged transaction relates. Ciena records derivative instruments in the Consolidated Statements of Cash Flows within operating, investing, or financing activities consistent with the cash flows of the hedged items. From time to time, Ciena uses foreign currency forward contracts to hedge certain balance sheet foreign exchange exposures. These forward contracts 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 Consolidated Statements of Operations.
Computation of Net Income per Share	Ciena calculates basic net income per common share (“Basic EPS”) by dividing earnings attributable to common stock by the weighted average number of common shares outstanding for the period. Diluted net income per potential common share (“Diluted EPS”) includes other potential dilutive shares that would be outstanding if securities or other contracts to issue common stock were exercised or converted into common stock. Ciena uses a dual presentation of Basic EPS and Diluted EPS on the face of its income statement. A reconciliation of the numerator and denominator used for the Basic EPS and Diluted EPS computations is set forth in Note 20 below.
Software Development Costs	Ciena develops software for sale to its customers. GAAP requires the capitalization of certain software development costs that are incurred subsequent to the date that technological feasibility is established and prior to the date the product is generally available for sale. The capitalized cost is then amortized using the straight-line method over the estimated life of the product. Ciena defines technological feasibility as being attained at the time a working model is completed. To date, the period between Ciena achieving technological feasibility and the general availability of such software has been short, and software development costs qualifying for capitalization have been insignificant. Accordingly, Ciena has not capitalized any software development costs.
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. Ciena is currently evaluating the impact of this accounting standard update 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 to decision makers. ASU 2023-09 is effective for annual periods beginning in fiscal 2026 and will result in changes to certain of its income tax disclosures including substantially more information on a disaggregated basis, but it does not affect recognition or measurement of income taxes and therefore is not expected to have a material effect on our consolidated financial statements. In November 2024, the FASB issued ASU No. 2024-03 (“ASU 2024-03”), Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) to improve financial reporting by requiring that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027; 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 Securities and Exchange Commission (the “SEC”) adopted final rules under SEC Release No. 33-11275, The Enhancement and Standardization of Climate Related Disclosures for Investors, to require registrants to provide certain climate-related information in their registration statements and annual reports. The rules would 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 would also include disclosure of a registrant's greenhouse gas emissions. Finally, the rules would require registrants to present certain climate-related financial metrics in their audited financial statements. 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.

REVENUE

12 Months Ended

Nov. 02, 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 and cash flows for similar groupings of Ciena’s various offerings. The sales cycle, contractual obligations, customer requirements, and go-to-market strategies may differ for each of its product categories, resulting in different economic risk profiles for each category.

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


	Year Ended November 2, 2024
	Networking Platforms		Platform Software and Services		Blue Planet Automation Software and Services		Global Services		Total
Product lines:
Optical Networking	$	2,642,563	$	—	$	—	$	—	$	2,642,563
Routing and Switching	399,492		—		—		—		399,492
Platform Software and Services	—		358,062		—		—		358,062
Blue Planet Automation Software and Services	—		—		77,619		—		77,619
Maintenance Support and Training	—		—		—		303,086		303,086
Installation and Deployment	—		—		—		184,358		184,358
Consulting and Network Design	—		—		—		49,775		49,775
Total revenue by product line	$	3,042,055	$	358,062	$	77,619	$	537,219	$	4,014,955

Timing of revenue recognition:
Products and services at a point in time	$	3,042,055	$	99,317	$	19,267	$	44,410	$	3,205,049
Products and services transferred over time	—		258,745		58,352		492,809		809,906
Total revenue by timing of revenue recognition	$	3,042,055	$	358,062	$	77,619	$	537,219	$	4,014,955


	Year Ended October 28, 2023
	Networking Platforms		Platform Software and Services		Blue Planet Automation Software and Services		Global Services		Total
Product lines:
Optical Networking	$	2,987,245	$	—	$	—	$	—	$	2,987,245
Routing and Switching	506,247		—		—		—		506,247
Platform Software and Services	—		303,873		—		—		303,873
Blue Planet Automation Software and Services	—		—		69,170		—		69,170
Maintenance Support and Training	—		—		—		288,334		288,334
Installation and Deployment	—		—		—		180,951		180,951
Consulting and Network Design	—		—		—		50,729		50,729
Total revenue by product line	$	3,493,492	$	303,873	$	69,170	$	520,014	$	4,386,549

Timing of revenue recognition:
Products and services at a point in time	$	3,493,492	$	67,013	$	21,842	$	55,036	$	3,637,383
Products and services transferred over time	—		236,860		47,328		464,978		749,166
Total revenue by timing of revenue recognition	$	3,493,492	$	303,873	$	69,170	$	520,014	$	4,386,549


	Year Ended October 29, 2022
	Networking Platforms		Platform Software and Services		Blue Planet Automation Software and Services		Global Services		Total
Product lines:
Optical Networking	$	2,379,931	$	—	$	—	$	—	$	2,379,931
Routing and Switching	398,439		—		—		—		398,439
Platform Software and Services	—		277,191		—		—		277,191
Blue Planet Automation Software and Services	—		—		76,567		—		76,567
Maintenance Support and Training	—		—		—		292,375		292,375
Installation and Deployment	—		—		—		157,443		157,443
Consulting and Network Design	—		—		—		50,715		50,715
Total revenue by product line	$	2,778,370	$	277,191	$	76,567	$	500,533	$	3,632,661

Timing of revenue recognition:
Products and services at a point in time	$	2,778,370	$	85,691	$	25,540	$	44,091	$	2,933,692
Products and services transferred over time	—		191,500		51,027		456,442		698,969
Total revenue by timing of revenue recognition	$	2,778,370	$	277,191	$	76,567	$	500,533	$	3,632,661

Ciena reports its sales geographically in 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 principally based on the relevant location for Ciena’s delivery of products and performance of services.

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


	Year Ended
	November 2, 2024		October 28, 2023		October 29, 2022
Geographic distribution:
Americas	$	2,951,915	$	3,110,347	$	2,636,840
EMEA	648,870		643,142		555,215
APAC	414,170		633,060		440,606
Total revenue by geographic distribution	$	4,014,955	$	4,386,549	$	3,632,661

Ciena’s revenue includes United States revenue of $2.8 billion for both fiscal 2024 and fiscal 2023, and $2.4 billion for fiscal 2022. No other country accounted for 10% or more of total revenue for the periods presented above.

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


	November 2, 2024		October 28, 2023		October 29, 2022
Cloud Provider	$	532,332	$	561,397	n/a
AT&T	475,261		464,662		$	433,418
Verizon	n/a		n/a		402,787
Total	$	1,007,593	$	1,026,059	$	836,205

________________________________


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

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. The other customers identified above purchased products and services from each of Ciena’s operating segments for each of the periods presented.

While Ciena has benefited from the diversification of its business and customer base, its ten largest customers contributed 57.9% of fiscal 2024 revenue, 53.7% of fiscal 2023 revenue and 56.3% of fiscal 2022 revenue.

◦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 Coherent ELS open line system, the O-NID edge OTN demarcation device, coherent pluggable transceivers, and the 5400 family of Packet-Optical Platforms.

▪Routing and Switching - includes the 3000 family of service delivery platforms and the 5000 family of service aggregation. This product line also includes, the 8100 Coherent IP networking platforms, Ciena’s WaveRouter® product, virtualization software, the 6500 Packet Transport System (PTS), which combines packet switching, control plane operation, and integrated optics, and the 8700 Packetwave Platform. 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 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),” and legacy software solutions that support Ciena’s installed base of network solutions, including the OneControl Unified Management System. 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 Consolidated Statements of Operations. Revenue from the services portions of this segment is included in services revenue on the 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 accelerate digital transformation. Ciena’s Blue Planet Automation Platform includes inventory management (BPI), multi-domain service orchestration (MDSO), multi-cloud orchestration (MCO), route optimization and analysis (ROA), 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 Consolidated Statements of Operations. Revenue from the services portions of this segment is included in services revenue on the 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 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 (in thousands):


	Balance at November 2, 2024		Balance at October 28, 2023
Accounts receivable, net	$	908,597	$	1,003,876
Contract assets for unbilled accounts receivable, net	$	127,919	$	150,312
Deferred revenue	$	237,619	$	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 on the 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 $153.9 million and $135.5 million of revenue during fiscal 2024 and 2023, respectively, that was included in the deferred revenue balance at November 2, 2024 and October 28, 2023, respectively. Revenue recognized due to changes in transaction price from performance obligations satisfied or partially satisfied in previous periods was immaterial during fiscal 2024 and 2023.

Capitalized Contract Acquisition Costs

Capitalized contract acquisition costs consist of deferred sales commissions and were $28.4 million and $30.2 million as of November 2, 2024 and October 28, 2023, respectively, and are included in (i) prepaid expenses and other and (ii) other long-term assets. The amortization expense associated with these costs was $30.5 million and $34.2 million during fiscal 2024 and fiscal 2023, respectively, and are included in selling and marketing expense on the 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 November 2, 2024, the aggregate amount of RPO was $1.6 billion. As of November 2, 2024, Ciena expects approximately 77% of the RPO to be recognized as revenue within the next twelve 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

SEGMENT AND ENTITY WIDE DISCLOSURES - Other Intangibles Assets, Goodwill and Maintenance Spares (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Segment Reporting Information [Line Items]
Other intangible assets, net	$ 165,020	$ 205,627
Goodwill	444,707	444,765
Maintenance spares, net	77,918	$ 54,042
Networking Platforms
Segment Reporting Information [Line Items]
Other intangible assets, net	158,903
Goodwill	199,467
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	6,117
Goodwill	89,049
Maintenance spares, net	0
Global Services
Segment Reporting Information [Line Items]
Other intangible assets, net	0
Goodwill	0
Maintenance spares, net	$ 77,918

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
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+ Details

INCOME TAXES - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Current:
Federal	$ 70,208	$ 36,537	$ 27,479
State	14,106	18,860	10,289
Foreign	28,390	28,281	19,337
Total current	112,704	83,678	57,105
Deferred:
Federal	(52,300)	(8,010)	(30,032)
State	(4,868)	(17,354)	520
Foreign	(19,642)	10,512	2,010
Total deferred	(76,810)	(14,852)	(27,502)
Provision for income taxes	$ 35,894	$ 68,826	$ 29,603

FAIR VALUE MEASUREMENTS - Fair Value Measurements (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Assets:
Debt securities available for sale	$ 490,128	$ 368,307
Corporate debt securities
Assets:
Debt securities available for sale	111,143	59,569
Fair Value, Measurements, Recurring
Assets:
Deferred compensation plan assets	16,519	11,456
Total assets measured at fair value	1,269,373	1,171,107
Liabilities:
Total liabilities measured at fair value	9,155	14,509
Fair Value, Measurements, Recurring \| Foreign currency forward contracts
Assets:
Derivative assets	2,149	1,119
Liabilities:
Foreign currency forward contracts	9,155	14,509
Fair Value, Measurements, Recurring \| Interest Rate Swaps
Assets:
Derivative assets	11,777	24,953
Fair Value, Measurements, Recurring \| Bond mutual fund
Assets:
Debt securities available for sale	112,703	104,171
Fair Value, Measurements, Recurring \| U.S. government obligations
Assets:
Debt securities available for sale	286,181	169,909
Fair Value, Measurements, Recurring \| Corporate debt securities
Assets:
Debt securities available for sale	111,143
Fair Value, Measurements, Recurring \| Commercial paper
Assets:
Debt securities available for sale		59,569
Level 1 \| Fair Value, Measurements, Recurring
Assets:
Deferred compensation plan assets	16,519	11,456
Total assets measured at fair value	858,123	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:
Foreign currency forward contracts	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	112,703	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
Level 1 \| Fair Value, Measurements, Recurring \| Commercial paper
Assets:
Debt securities available for sale		0
Level 2 \| Fair Value, Measurements, Recurring
Assets:
Deferred compensation plan assets	0	0
Total assets measured at fair value	411,250	255,550
Liabilities:
Total liabilities measured at fair value	9,155	14,509
Level 2 \| Fair Value, Measurements, Recurring \| Foreign currency forward contracts
Assets:
Derivative assets	2,149	1,119
Liabilities:
Foreign currency forward contracts	9,155	14,509
Level 2 \| Fair Value, Measurements, Recurring \| Interest Rate Swaps
Assets:
Derivative assets	11,777	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	286,181	169,909
Level 2 \| Fair Value, Measurements, Recurring \| Corporate debt securities
Assets:
Debt securities available for sale	111,143
Level 2 \| Fair Value, Measurements, Recurring \| Commercial paper
Assets:
Debt securities available for sale		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:
Foreign currency forward contracts	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
Level 3 \| Fair Value, Measurements, Recurring \| Commercial paper
Assets:
Debt securities available for sale		0
Money market funds \| Fair Value, Measurements, Recurring
Assets:
Cash equivalents	636,097	661,101
Money market funds \| Level 1 \| Fair Value, Measurements, Recurring
Assets:
Cash equivalents	636,097	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	92,804	138,829
Time deposits \| Level 1 \| Fair Value, Measurements, Recurring
Assets:
Cash equivalents	92,804	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

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Nov. 02, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Stock Repurchase Program From the end of the fourth quarter of fiscal 2024 through December 13, 2024, Ciena repurchased 540,521 shares of its common stock for an aggregate purchase price of $38.3 million at an average price of $70.82 per share, inclusive of repurchases pending settlement under its current stock repurchase program. As of December 13, 2024, Ciena has an aggregate of $961.7 million of authorized funds remaining under this repurchase program.

SIGNIFICANT ASSET IMPAIRMENT AND RESTRUCTURING COSTS

12 Months Ended

Nov. 02, 2024

Restructuring and Related Activities [Abstract]

SIGNIFICANT ASSET IMPAIRMENT AND RESTRUCTURING COSTS

Ciena has undertaken a number of restructuring activities intended to reduce expense and 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 Ciena’s Consolidated Balance Sheets, for the fiscal years indicated (in thousands):


	Workforce reduction			Other restructuring activities			Total
Balance at October 30, 2021	$	781		$	—		$	781
Charges	3,156		(1)	26,814		(2)	29,970

Cash payments	(2,722)			(22,194)			(24,916)
Balance at October 29, 2022	1,215			4,620			5,835
Charges	6,885		(1)	16,949		(2)	23,834


Cash payments	(6,187)			(21,569)			(27,756)
Balance at October 28, 2023	1,913			—			1,913
Charges	15,408		(1)	9,184		(2)	24,592


Cash payments	(15,394)			(9,184)			(24,578)
Balance at November 2, 2024	$	1,927		$	—		$	1,927
Current restructuring liabilities	$	1,927		$	—		$	1,927

_________________________________

(1) Reflects employee costs associated with a global workforce reduction of approximately 420, 120 and 60 employees during fiscal 2024, 2023 and 2022, respectively, as part of a business optimization strategy to improve gross margin, constrain operating expense and redesign certain business processes.

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

Significant Asset Impairments

In February 2022, armed conflict escalated between Russia and Ukraine. The United States and certain other countries have imposed sanctions on Russia and could impose further sanctions. On March 7, 2022, Ciena announced its decision to suspend its business operations in Russia. As a result, Ciena recorded impairment charges of approximately $3.8 million, of which $1.8 million was a provision for credit losses.

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Pay vs Performance Disclosure
Net income	$ 83,956	$ 254,827	$ 152,902

- Definition

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

+ References

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+ Details

SHORT-TERM AND LONG-TERM DEBT (Tables)

12 Months Ended

Nov. 02, 2024

Debt Disclosure [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

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


	November 2, 2024								October 28, 2023
	Principal Balance		Unamortized Discount		Deferred Debt Issuance Costs		Net Carrying Value		Net Carrying Value
2030 New Term Loan	$	1,158,300	$	(4,359)	$	(5,594)	$	1,148,347	$	1,159,371

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


	November 2, 2024						October 28, 2023
	Principal Balance		Deferred Debt Issuance Costs		Net Carrying Value		Net Carrying Value
2030 Senior Notes 4.00% fixed-rate	$	400,000	$	(3,573)	$	396,427	$	395,735

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Nov. 02, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

GOODWILL (Details) $ in Thousands	12 Months Ended
GOODWILL (Details) $ in Thousands	Nov. 02, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 444,765
Translation	(58)
Goodwill, ending balance	444,707
Platform Software and Services
Goodwill [Roll Forward]
Goodwill, ending balance	156,191
Blue Planet Automation Software and Services
Goodwill [Roll Forward]
Goodwill, ending balance	89,049
Networking Platforms
Goodwill [Roll Forward]
Goodwill, ending balance	199,467
Operating Segments \| Platform Software and Services
Goodwill [Roll Forward]
Goodwill, beginning balance	156,191
Translation	0
Goodwill, ending balance	156,191
Operating Segments \| Blue Planet Automation Software and Services
Goodwill [Roll Forward]
Goodwill, beginning balance	89,049
Translation	0
Goodwill, ending balance	89,049
Operating Segments \| Networking Platforms
Goodwill [Roll Forward]
Goodwill, beginning balance	199,525
Translation	(58)
Goodwill, ending balance	$ 199,467

- Definition

+ References

+ Details

LEASES (Tables)

12 Months Ended

Nov. 02, 2024

Leases [Abstract]

Schedule of Leases Included in Balance Sheet

Leases included on the Consolidated Balance Sheets for the fiscal periods indicated were as follows (in thousands):


	Classification	Balance at November 2, 2024		Balance at October 28, 2023
Operating leases:
Operating ROU Assets	Operating right-of-use assets	$	27,417	$	35,140
Operating lease liabilities	Operating lease liabilities and Long-term operating lease liabilities	$	39,562	$	49,914
Finance leases:
Buildings, gross	Equipment, building, furniture and fixtures, net	$	67,517	$	67,904
Less: accumulated depreciation	Equipment, building, furniture and fixtures, net	(34,206)		(30,079)
Buildings, net		$	33,311	$	37,825
Finance lease liabilities	Accrued liabilities and other short-term obligations and other long-term obligations	$	47,917	$	52,145

Schedule of Components of Lease Expense

For the periods indicated, the components of lease expense included in the Consolidated Statements of Operations were as follows (in thousands):


		Year Ended		Year Ended		Year Ended
	Classification	November 2, 2024		October 28, 2023		October 29, 2022
Operating lease costs	Operating expense	$	13,595	$	16,080	$	17,966
Finance lease cost:
Amortization of finance ROU asset	Operating expense	4,406		4,448		4,592
Interest on finance lease liabilities	Interest expense	3,769		4,069		4,601
Total finance lease cost		8,175		8,517		9,193
Non-capitalized lease cost	Operating expense	954		910		917
Variable lease cost(1)	Operating expense	2,562		3,421		5,898

Net lease cost(2)		$	25,286	$	28,928	$	33,974

(1) Variable lease costs include expenses relating to insurance, taxes, maintenance and other costs required by the applicable operating lease. Variable lease costs are determined by whether they are to be included in base rent and if amounts are based on a consumer price index.

(2) Excludes other operating expense of $5.3 million, $6.5 million, and $12.8 million for the fiscal years ended November 2, 2024, October 28, 2023, and October 29, 2022, respectively, related to amortization of leasehold improvements.

The weighted average remaining lease terms and weighted average discount rates for operating and finance leases were as follows (in thousands):


Weighted-average remaining lease term in years:	As of November 2, 2024		As of October 28, 2023
Operating leases	4.00		4.07
Finance leases	7.71		8.71
Weighted-average discount rates:
Operating leases	4.29	%	3.88	%
Finance leases	7.56	%	7.56	%

Schedule of Future Minimum Lease Payments, Operating Lease

Future minimum lease payments and the present value of minimum lease payments related to operating and finance leases as of November 2, 2024 were as follows (in thousands):


Fiscal Year	Operating Leases		Finance Leases		Total
2025	$	15,601	$	7,749	$	23,350
2026	11,187		7,779		18,966
2027	6,587		8,049		14,636
2028	2,157		8,319		10,476
2029	2,578		8,319		10,897
Thereafter	5,393		22,937		28,330
Total lease payments	43,503		63,152		106,655
Less: Imputed interest	(3,941)		(15,235)		(19,176)
Present value of lease liabilities	39,562		47,917		87,479
Less: Current portion of present value of minimum lease payments	14,455		4,395		18,850
Long-term portion of present value of minimum lease payments	$	25,107	$	43,522	$	68,629

Schedule of Future Minimum Lease Payments, Finance Lease

Future minimum lease payments and the present value of minimum lease payments related to operating and finance leases as of November 2, 2024 were as follows (in thousands):


Fiscal Year	Operating Leases		Finance Leases		Total
2025	$	15,601	$	7,749	$	23,350
2026	11,187		7,779		18,966
2027	6,587		8,049		14,636
2028	2,157		8,319		10,476
2029	2,578		8,319		10,897
Thereafter	5,393		22,937		28,330
Total lease payments	43,503		63,152		106,655
Less: Imputed interest	(3,941)		(15,235)		(19,176)
Present value of lease liabilities	39,562		47,917		87,479
Less: Current portion of present value of minimum lease payments	14,455		4,395		18,850
Long-term portion of present value of minimum lease payments	$	25,107	$	43,522	$	68,629

BUSINESS COMBINATIONS

12 Months Ended

Nov. 02, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

BUSINESS COMBINATIONS

Fiscal 2023 Acquisitions: Benu and Tibit

On November 17, 2022, Ciena acquired Benu, a portfolio of cloud-native software solutions, including a virtual Broadband Network Gateway ((v)BNG), that complements Ciena’s existing portfolio of broadband access solutions. On December 30, 2022, Ciena acquired Tibit, a provider and developer of passive optical network (“PON”)-specific hardware and operating software that can be integrated into a carrier-grade Ethernet switch and will strengthen Ciena’s portfolio of next-generation PON solutions that support residential, enterprise, and mobility use cases. These businesses were acquired for an aggregate of approximately $291.7 million, of which $244.7 million was paid in cash, and $47.0 million represents the fair value of Ciena’s previously held cost method equity investment in Tibit. The acquisition of Tibit triggered the remeasurement of Ciena’s previously held investment in Tibit to fair value, which resulted in Ciena recognizing a gain on its cost method equity investment of $26.5 million. Each of these transactions has been accounted for as the acquisition of a business.

Ciena incurred approximately $3.4 million in acquisition-related costs associated with these acquisitions. These costs and expenses primarily include fees associated with financial, legal, and accounting advisors and employment-related costs. These costs were recorded in acquisition and integration costs on the Consolidated Statements of Operations.

The following table summarizes the final purchase price allocation related to the acquisitions based on the estimated fair value of the acquired assets and assumed liabilities (in thousands):


	Amount
Cash and cash equivalents	$	14,634
Accounts receivable, net	443
Inventories, net	1,406
Prepaid expenses and other	810
Equipment, furniture and fixtures	1,090
Goodwill	116,644
Developed technology	75,400
In-process technology	89,100
Customer relationships and contracts	18,400
Order backlog	2,480
Deferred tax asset, net	(26,429)
Accounts payable	(420)
Accrued liabilities and other short-term obligations	(874)
Deferred revenue	(851)
Other long-term obligations	(144)
Total purchase consideration	$	291,689

Developed technology represents purchased technology that has reached technological feasibility and for which the acquired companies had substantially completed development as of the date of acquisition. Fair value was determined using future discounted cash flows related to the projected income stream of the developed technology for a discrete projection period. Cash flows were discounted to their present value as of the closing date. Developed technology is amortized on a straight-line basis over its estimated useful life of five years.

In-process technology represents purchased technology that had not reached technological feasibility as of the date of acquisition. Fair value was determined using future discounted cash flows related to the projected income stream of the in-process technology for a discrete projection period. Cash flows were discounted to their present value as of the closing date. Upon completion of the in-process technology, it will be amortized on a straight line basis over its estimated useful life, which will be determined on that date.

Customer relationships and contracts represent agreements with existing Tibit customers and have an estimated useful life of three years. Order backlog is amortized over the fulfillment period.

The goodwill generated from these acquisitions is primarily related to expected economic synergies. The total goodwill amount was recorded in the Networking Platforms segment. The goodwill is not deductible for income tax purposes.

Pro forma disclosures have not been included due to immateriality. The amounts of revenue and earnings for these acquisitions since the acquisition dates, which are included on the Consolidated Statements of Operations for the reporting period, are immaterial.

Fiscal 2022 Acquisitions: Vyatta and Xelic

On November 1, 2021, Ciena acquired AT&T’s Vyatta Software Technology (“Vyatta”), a provider of software-based virtual routing and switching technology. AT&T is a customer of Ciena; see Note 2 above. On March 9, 2022, Ciena acquired Xelic, Inc., a provider and developer of field programmable gate array (FPGA) and application-specific integrated circuit (ASIC) technology and optical networking IP cores. These businesses were acquired for an aggregate of approximately $64.1 million, of which $63.3 million was paid in cash and $0.8 million represents a future payable arrangement. These transactions have each been accounted for as the acquisition of a business.

Ciena incurred approximately $1.7 million in acquisition-related costs associated with these acquisitions. These costs and expenses primarily include fees associated with financial, legal and accounting advisors. These costs were recorded in acquisition and integration costs in the Consolidated Statements of Operations.

The following table summarizes the final purchase price allocation related to the acquisitions based on the estimated fair value of the acquired assets and assumed liabilities (in thousands):


	Amount
Cash and cash equivalents	$	201
Prepaid expenses and other	1,614
Equipment, furniture and fixtures	694
Customer relationships and contracts	15,800
Developed technology	32,491
Goodwill	17,698
Accrued liabilities	(4,434)
Total purchase consideration	$	64,064

Customer relationships and contracts represent agreements with existing Vyatta customers and have an estimated useful life of two years.

The goodwill generated from these acquisitions is primarily related to expected economic synergies. The total goodwill amount was recorded in the Networking Platforms segment. Goodwill is not deductible for income tax purposes.

Pro forma disclosures have not been included due to immateriality. The amounts of revenue and earnings for these acquisitions since the acquisition dates, which are included in the Consolidated Statements of Operations for the reporting period, are immaterial.

DERIVATIVE INSTRUMENTS	12 Months Ended
DERIVATIVE INSTRUMENTS	Nov. 02, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	DERIVATIVE INSTRUMENTS Foreign Currency Derivatives Ciena conducts business globally in many currencies, and thus is exposed to foreign currency exchange rate changes. To limit this exposure, Ciena entered into foreign currency contracts. Ciena does not enter into such contracts for speculative purposes. As of November 2, 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 $257.0 million and $367.3 million as of November 2, 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 November 2, 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 $65.4 million and $48.0 million as of November 2, 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 November 2, 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 $201.2 million and $226.3 million as of November 2, 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 18 below) and has hedged such risk by entering into floating-to-fixed interest rate swap arrangements (“interest rate swaps”). 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 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 million as of November 2, 2024 and October 28, 2023. In January 2023, Ciena entered into interest rate swaps to fix the SOFR rate for an additional $350.0 million of its floating rate debt at 3.47% through January 2028 (“2028 interest rate swaps”). The total notional amount of the 2028 interest rate swaps in effect as of November 2, 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 November 2, 2024. Ciena expects the variable rate payments to be received under the terms 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 18 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 Notes 5 and 7 above.

OTHER BALANCE SHEET DETAILS - Accrued Liabilities (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022	Oct. 30, 2021
Accrued liabilities
Compensation, payroll related tax and benefits	$ 148,732	$ 159,530
Warranty	55,267	57,089	$ 45,503	$ 48,019
Vacation	31,250	29,503
Income taxes payable	35,111	16,341
Foreign currency forward contracts	9,155	14,509
Interest payable	$ 6,120	$ 4,514
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total	Total
Finance lease liabilities	$ 4,395	$ 3,953
Other	103,875	145,980
Total	$ 393,905	$ 431,419

LEASES - Leases Maturity (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Operating Leases
2025	$ 15,601
2026	11,187
2027	6,587
2028	2,157
2029	2,578
Thereafter	5,393
Total lease payments	43,503
Less: Imputed interest	(3,941)
Present value of lease liabilities	39,562	$ 49,914
Less: Current portion of present value of minimum lease payments	14,455	16,655
Long-term portion of present value of minimum lease payments	25,107	33,259
Finance Leases
2025	7,749
2026	7,779
2027	8,049
2028	8,319
2029	8,319
Thereafter	22,937
Total lease payments	63,152
Less: Imputed interest	(15,235)
Present value of lease liabilities	47,917
Less: Current portion of present value of minimum lease payments	4,395	3,953
Long-term portion of present value of minimum lease payments	43,522	$ 48,192
Total
2025	23,350
2026	18,966
2027	14,636
2028	10,476
2029	10,897
Thereafter	28,330
Total lease payments	106,655
Less: Imputed interest	(19,176)
Present value of lease liabilities	87,479
Less: Current portion of present value of minimum lease payments	18,850
Long-term portion of present value of minimum lease payments	$ 68,629

INTANGIBLE ASSETS (Tables)

12 Months Ended

Nov. 02, 2024

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Schedule of Intangible Assets

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


	November 2, 2024						October 28, 2023
	Gross Intangible		Accumulated Amortization		Net Intangible		Gross Intangible		Accumulated Amortization		Net Intangible
Developed technology	$	503,618	$	(442,345)	$	61,273	$	503,618	$	(414,941)	$	88,677
In-process research and development	89,100		—		89,100		89,100		—		89,100
Patents and licenses	8,795		(6,150)		2,645		8,795		(5,203)		3,592
Customer relationships, covenants not to compete, outstanding purchase orders and contracts	410,934		(398,932)		12,002		410,983		(386,725)		24,258
Total intangible assets	$	1,012,447	$	(847,427)	$	165,020	$	1,012,496	$	(806,869)	$	205,627

Schedule of Expected Future Amortization of Finite-lived Intangible Assets

Expected future amortization of intangible assets for the fiscal years indicated is as follows (in thousands):


Fiscal Year	Amount (1)
2025	$	34,576
2026	23,348
2027	15,843
2028	1,991
2029	126
Thereafter	36
	$	75,920

(1) Does not include amortization of in-process research and development, as estimation of the timing of future amortization expense would be impractical.

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Nov. 02, 2024	Oct. 28, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (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 (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	290,000,000	290,000,000
Common stock, shares issued (in shares)	142,656,116	144,829,938
Common stock, shares outstanding (in shares)	142,656,116	144,829,938

CIENA CORPORATION AND SIGNIFICANT ACCOUNTING POLICIES AND ESTIMATES	12 Months Ended
	Nov. 02, 2024
Accounting Policies [Abstract]
CIENA CORPORATION AND SIGNIFICANT ACCOUNTING POLICIES AND ESTIMATES	CIENA CORPORATION AND SIGNIFICANT ACCOUNTING POLICIES AND ESTIMATES Description of Business Ciena Corporation (“Ciena” or the “Company”) is a network technology company, providing hardware, software, and services to a wide range of network operators and enabling enhanced network capacity, service delivery, and automation. Our solutions support network traffic across a wide range of applications, including cloud, video, data, artificial intelligence (“AI”), and voice. Ciena’s network solutions are used globally by communications service providers, cable and multiservice operators, cloud providers, submarine network operators, governments, and enterprises across multiple industry verticals. Ciena’s portfolio is designed to enable the Adaptive Network™, which is Ciena’s vision for a network end state that leverages a programmable and scalable network infrastructure, driven by software control and automation capabilities, that is informed by network analytics and intelligence. By using Ciena’s network solutions to transform network infrastructures into dynamic, programmable environments driven by automation and analytics, Ciena believes network operators can realize greater business agility, adapt dynamically to changing end-user service demands, rapidly introduce new revenue-generating services, and scale networks to meet increased traffic demands. Ciena’s solutions are also designed to enable network operators to gain valuable real-time network insights, allowing them to optimize network performance and maximize the return on their network infrastructure investment. Ciena’s solutions include Networking Platforms, including its Optical Networking portfolio and Routing and Switching portfolio, which can be applied from the network core to end-user access points, and which allow network operators to scale capacity, increase transmission speeds, allocate traffic efficiently, and adapt dynamically to changing end-user service demands. Ciena’s Optical Networking portfolio includes products that support long haul and regional networks, submarine and data center interconnect networks, and metro and edge networks. Ciena’s Routing and Switching portfolio includes products and solutions that enable efficient Internet Protocol (“IP”) transport in next-generation metro, core, aggregation, and access networks, including converged IP, optical, and fiber-based broadband access applications. To complement its Networking Platforms, Ciena offers Platform Software, which includes its Navigator Network Control Software (“Navigator NCS”) (formerly known as Manage, Control and Plan (“MCP”)) and advanced applications that deliver multi-layer domain control and operations for network operators. Ciena, through its Blue Planet® Automation Software, also enables complete service lifecycle management automation with productized operational support systems (“OSS”), including inventory, orchestration, and assurance solutions that help its customers to achieve closed loop automation across multi-vendor and multi-domain environments. In addition to its systems and software, Ciena also offers a broad range of services that help its customers build, operate, and improve their networks and associated operational environments. These include network transformation, consulting, implementation, systems integration, maintenance, network operations center (NOC) management, learning, and optimization services. Basis of Presentation The accompanying consolidated financial statements include the accounts of Ciena and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Ciena has a 52 or 53-week fiscal year, which ends on the Saturday nearest to the last day of October in each year (November 2, 2024, October 28, 2023, and October 29, 2022, for the periods reported). Fiscal 2024 was a 53-week fiscal year with the additional week occurring in the fourth quarter. Fiscal 2023 and fiscal 2022 each consisted of a 52-week fiscal year. Business Combinations Ciena records acquisitions using the purchase method of accounting. The assets acquired, liabilities assumed, contractual contingencies, and contingent consideration are recognized at their fair value as of the acquisition date. The excess of the purchase price over the estimated fair values of the net tangible and net intangible assets acquired is recorded as goodwill. The application of the purchase method of accounting for business combinations requires management to make significant estimates and assumptions in the determination of the fair value of assets acquired and liabilities assumed, in order to properly allocate purchase price consideration between assets that are depreciated and amortized from goodwill. These assumptions and estimates include a market participant’s use of the asset and the appropriate discount rates for a market participant. Ciena’s estimates are based on historical experience, information obtained from the management of the acquired companies and, when appropriate, include assistance from independent third-party appraisal firms. Significant assumptions and estimates can include, but are not limited to, the cash flows that an asset is expected to generate in the future, the appropriate weighted-average cost of capital and the cost savings expected to be derived from acquiring an asset. These estimates are inherently uncertain and unpredictable. In addition, unanticipated events and circumstances may occur which may affect the accuracy or validity of such estimates. Use of Estimates The preparation of the financial statements and related disclosures in conformity with Generally Accepted Accounting Principles (“GAAP”) requires management to make estimates and judgments that affect the amounts reported in the consolidated financial statements and accompanying notes. Estimates are used for selling prices for multiple element arrangements, shared-based compensation, bad debts, valuation of inventories and investments, recoverability of intangible assets, other long-lived assets and goodwill, income taxes, warranty obligations, restructuring liabilities, derivatives, contingencies and litigation. Ciena bases its estimates on historical experience and assumptions that it believes are reasonable. Actual results may differ materially from management’s estimates. Cash and Cash Equivalents Ciena considers all highly liquid investments purchased with original maturities of three months or less to be cash equivalents. Restricted cash collateralizing letters of credit are included in other current assets and other long-term assets, depending on the duration of the restriction. Investments Ciena’s investments in debt securities are classified as available-for-sale and reported at fair value, with unrealized gains and losses recorded in accumulated other comprehensive loss. Ciena recognizes losses in the income statement when it determines that declines in the fair value of its investments below their cost basis are other-than-temporary. In determining whether a decline in fair value is other-than-temporary, Ciena considers various factors, including market price (when available), investment ratings, the financial condition and near-term prospects of the investee, the length of time and the extent to which the fair value has been less than Ciena’s cost basis, and Ciena’s intent and ability to hold the investment until maturity or for a period of time sufficient to allow for any anticipated recovery in market value. Ciena considers all marketable debt securities that it expects to convert to cash within one year or less to be short-term investments, with all others considered to be long-term investments. Ciena has minority equity investments in privately held technology companies that are classified in other long-term assets. These investments are carried at cost because Ciena owns less than 20% of the voting equity and does not have the ability to exercise significant influence over the company. Ciena monitors these investments for impairment and makes appropriate reductions to the carrying value when necessary. As of November 2, 2024, the combined carrying value of these investments was $21.7 million. Ciena elects to estimate the fair value at cost minus impairment, if any, plus or minus observable price changes in orderly transactions for identical or similar investments of the same issuer. Ciena evaluates these investments for impairment or observable price changes quarterly and records adjustments to interest and other income, net on the Consolidated Statements of Operations. Inventories Inventories are stated at the lower of cost or market, with cost computed using standard cost, which approximates actual cost, on a first-in, first-out basis. Ciena records a provision for excess and obsolete inventory when an impairment has been identified. Segment Reporting Ciena’s chief operating decision maker, its chief executive officer, evaluates the Company’s performance and allocates resources based on multiple factors, including measures of segment profit (loss). Operating segments are defined as components of an enterprise that engage in business activities that earn revenue and incur expense, for which discrete financial information is available, and for which such information is evaluated regularly by the chief operating decision maker for purposes of allocating resources and assessing performance. 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. See Note 24 below. Goodwill Goodwill is the excess of the purchase price over the fair values assigned to the net assets acquired in a business combination. Ciena tests goodwill for impairment on an annual basis, which it has determined to be the last business day of fiscal September each year. Ciena also tests goodwill for impairment between annual tests if an event occurs or circumstances change that would, more likely than not, reduce the fair value of the reporting unit below its carrying value. Annually, Ciena tests goodwill impairment qualitatively, or quantitatively by comparing the fair value of the reporting unit with the unit’s carrying amount, including goodwill. If this test indicates that the fair value is less than the carrying value, then an impairment loss is recognized limited to the total amount of goodwill allocated to that reporting unit. A non-cash goodwill impairment charge would have the effect of decreasing earnings or increasing losses in such period. If Ciena is required to take a substantial impairment charge, its operating results would be materially adversely affected in such period. Long-lived Assets Long-lived assets include equipment, building, furniture and fixtures, operating right-of-use (“ROU”) assets, finite-lived intangible assets and maintenance spares. Ciena tests long-lived assets for impairment whenever triggering events or changes in circumstances indicate that the asset’s carrying amount is not recoverable from its undiscounted cash flows. An impairment loss is measured as the amount by which the carrying amount of the asset or asset group exceeds its fair value. Ciena’s long-lived assets are assigned to asset groups that represent the lowest level for which cash flows can be identified. Equipment, Building, Furniture and Fixtures and Internal Use Software Equipment, building, furniture and fixtures are recorded at cost. Depreciation and amortization are computed using the straight-line method, generally over useful lives of three years to five years for equipment and furniture and fixtures and the shorter of useful life or lease term for leasehold improvements. Qualifying internal use software and website development costs incurred during the application development stage, which consist primarily of outside services and purchased software license costs, are capitalized and amortized straight-line over the estimated useful lives of two years to five years. Leases At the inception of a contract, Ciena must determine whether the contract is or contains a lease. The contract is or contains a lease if the contract conveys the right to control the use of the property, plant, or equipment for a designated term in exchange for consideration. Ciena’s evaluation of its contracts follows the assessment of whether there is a right to obtain substantially all of the economic benefits from the use and the right to direct the use of the identified asset in the contract. Operating leases are included in the Operating ROU assets, Operating lease liabilities and Long-term operating lease liabilities on the Consolidated Balance Sheets. Finance leases are included in Equipment, building, furniture and fixtures, net (“Finance ROU assets”), Accrued liabilities and other short-term obligations and Other long-term obligations on the Consolidated Balance Sheets. Ciena has operating and finance leases that primarily relate to real property. Ciena has elected not to capitalize leases with a term of 12 months or less without a purchase option that it is likely to exercise. Ciena has elected not to separate lease and non-lease components of operating and finance leases. Lease components are payment items directly attributable to the use of the underlying asset, while non-lease components are explicit elements of a contract not directly related to the use of the underlying asset, including pass-through operating expenses, such as common area maintenance and utilities. Operating ROU assets and lease liabilities and Finance ROU assets and lease liabilities are recognized on the Consolidated Balance Sheets at the present value of the future lease payments over the life of the lease term. Ciena uses discount rates based on incremental borrowing rates, on a collateralized basis, for the respective underlying assets, for terms similar to the respective leases when implicit rates for leases are not determinable. Operating lease costs are included as rent expense in the Consolidated Statements of Operations. Fixed base payments on operating leases paid directly to the lessor are recorded as lease expense on a straight-line basis. Related variable payments based on usage, changes in an index, or market rate are expensed as incurred. Finance ROU assets are generally amortized on a straight-line basis over the lease term with the interest expense on the lease liability recorded using the interest method. The amortization and interest expense are recorded separately in the Consolidated Statements of Operations. Intangible Assets Ciena records finite-lived intangible assets from acquisitions. Finite-lived intangible assets are carried at cost less accumulated amortization. Amortization is computed using the straight-line method over the expected economic lives of the respective assets, up to seven years, which approximates the use of intangible assets. Cloud Computing Arrangements Ciena capitalizes certain costs related to hosting arrangements that are service contracts (cloud computing arrangements). Capitalized costs are included in Other long-term assets on the Consolidated Balance Sheets and are amortized on a straight-line basis over the estimated useful life. Maintenance Spares Maintenance spares are recorded at cost. Ciena depreciates spares ratably over four years. Concentrations Substantially all of Ciena’s cash and cash equivalents are maintained at a small number of major U.S. financial institutions. The majority of Ciena’s cash equivalents consist of money market funds. Deposits held with banks may exceed the amount of insurance provided on such deposits. Because these deposits generally may be redeemed upon demand, management believes that they bear minimal risk. Historically, a significant percentage of Ciena’s revenue has been concentrated among sales to a small number of large communications service providers and cloud providers. Consolidation among Ciena’s customers has increased this concentration. Consequently, Ciena’s accounts receivable are concentrated among these customers. See Note 2 below. Ciena’s access to certain materials or components is dependent on sole or limited source suppliers. The inability of any of these suppliers to fulfill Ciena’s supply requirements, or significant changes in supply cost, could affect future results. Ciena relies on a small number of contract manufacturers to perform the majority of the manufacturing for its products. If Ciena cannot effectively manage these manufacturers or forecast future demand, or if these manufacturers fail to deliver products or components on time, Ciena’s business and results of operations may suffer. Revenue Recognition Ciena recognizes revenue when control of the promised products or services is transferred to its customer, in an amount that reflects the consideration to which Ciena expects to be entitled in exchange for those products or services. Ciena determines revenue recognition by applying the following five-step approach: •identification of the contract, or contracts, with a customer; •identification of the performance obligations in the contract; •determination of the transaction price; •allocation of the transaction price to the performance obligations in the contract; and •recognition of revenue when, or as, Ciena satisfies a performance obligation. Generally, Ciena makes sales pursuant to purchase orders placed by customers under framework agreements that govern the general commercial terms and conditions of the sale of Ciena’s products and services. These purchase orders under framework agreements are used to determine the identification of the contract or contracts with this customer. Purchase orders typically include the description, quantity, and price of each product or service purchased. Purchase orders may include one-line bundled pricing for both products and services. Accordingly, purchase orders can include various combinations of products and services that are generally distinct and accounted for as separate performance obligations. Ciena evaluates each promised product and service offering to determine whether it represents a distinct performance obligation. In doing so, Ciena considers, among other things, customary business practices, whether the customer can benefit from the product or service on its own or together with other resources that are readily available, and whether Ciena’s commitment to transfer the product or service to the customer is separately identifiable from other obligations in the purchase order. For transactions where Ciena delivers the product or services, Ciena is typically the principal and records revenue and costs of goods sold on a gross basis. Purchase orders are invoiced based on the terms set forth either in the purchase order or the framework agreement, as applicable. Generally, sales of products and software licenses are invoiced upon shipment or delivery. Maintenance and software subscription services are invoiced quarterly or annually in advance of the service term. Ciena’s other service offerings are generally invoiced upon completion of the service. Payment terms and cash received typically range from 30 to 90 days from the invoicing date. Historically, Ciena has not provided any material financing arrangements to its customers. As a practical expedient, Ciena does not adjust the amount of consideration it will receive for the effects of a significant financing component as it expects, at contract inception, that the period between Ciena’s transfer of the products or services to the customer and customer payment for the products or services will be one year or less. Shipping and handling fees invoiced to customers are included in revenue, with the associated expense included in product cost of goods sold. Ciena records revenue net of any associated sales taxes. Ciena recognizes revenue upon the transfer of control of promised products or services to a customer. Transfer of control occurs once the customer has the contractual right to use the product, generally upon shipment or delivery to the customer. Transfer of control can also occur over time for services, such as software subscription, maintenance, installation, and various professional services as the customer receives the benefit over the contract term. Significant Judgments Revenue is allocated among performance obligations based on standalone selling price (“SSP”). SSP reflects the price at which Ciena would expect to sell that product or service on a stand-alone basis at contract inception and that Ciena would expect to be entitled to receive for the promised products or services. SSP is estimated for each distinct performance obligation, and judgment may be required in its determination. The best evidence of SSP is the observable price of a product or service when Ciena sells the products separately in similar circumstances and to similar customers. In instances where SSP is not directly observable, Ciena determines SSP using information that may include market conditions and other observable inputs. Ciena applies judgment in determining the transaction price, as Ciena may be required to estimate variable consideration when determining the amount of revenue to recognize. Variable consideration can include various rebate, cooperative marketing, and other incentive programs that Ciena offers to its distributors, partners and customers. When determining the amount of revenue to recognize, Ciena estimates the expected usage of these programs, applying the expected value or most likely estimate and updates the estimate at each reporting period as actual utilization data becomes available. Ciena also considers any customer right of return and any actual or potential payment of liquidated damages, contractual or similar penalties, or other claims for performance failures or delays in determining the transaction price, where applicable. When transfer of control is judged to be over time for installation and professional service arrangements, Ciena applies the input method to determine the amount of revenue to be recognized in a given period. Utilizing the input method, Ciena recognizes revenue based on the ratio of actual costs incurred to date to the total estimated costs expected to be incurred. Revenue for software subscription and maintenance is recognized ratably over the period during which the services are performed. Capitalized Contract Acquisition Costs Ciena capitalizes and amortizes incremental costs of obtaining a contract considering each customer purchase in combination with the corresponding framework agreement, if applicable, as a contract. Ciena elected to implement the practical expedient, which allows for incremental costs to be recognized as an expense when incurred if the period of the asset recognition is one year or less. If the period of the asset recognition is greater than one year, Ciena amortizes these costs over the period of performance. Ciena considers sales commissions incurred upon receipt of purchase orders placed by customers as incremental costs to obtain such purchase orders. The practical expedient method is applied to the purchase order as a whole, and thus the capitalized costs of obtaining a purchase order is applied, even if the purchase order contains more than one performance obligation. In cases where a purchase order includes various distinct products or services with both short-term (one year or less) and long-term (more than a year) performance periods, the cost of commissions incurred for the total value of the purchase order is capitalized and subsequently amortized as each performance obligation is recognized. For the additional disclosures on capitalized contract acquisition costs, see Note 2 below. Warranty Accruals Ciena provides for the estimated costs to fulfill customer warranty obligations upon recognition of the related revenue. Estimated warranty costs include estimates for material costs, technical support labor costs and associated overhead. Warranty is included in cost of goods sold and is determined based on actual warranty cost experience, estimates of component failure rates and management’s industry experience. Ciena’s sales contracts do not permit the right of return of the product by the customer after the product has been accepted. Allowance for Credit Losses for Accounts Receivable and Contract Assets Ciena estimates its allowances for credit losses using relevant available information from internal and external sources, related to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. When assessing for credit losses, Ciena determines collectability by pooling assets with similar characteristics. The allowances for credit losses are each measured on a collective basis when similar risk characteristics exist. The allowances for credit losses are each measured by multiplying the exposure probability of default (the probability that the asset will default within a given time frame) by the loss given default rate (the percentage of the asset not expected to be collected due to default) based on the pool of assets. Probability of default rates is published by third-party credit rating agencies. Adjustments to Ciena’s exposure probability may take into account a number of factors, including, but not limited to, various customer-specific factors, the potential sovereign risk of the geographic locations in which the customer is operating, and macroeconomic conditions. These factors are updated regularly or when facts and circumstances indicate that an update is deemed necessary. Accounts Receivable Factoring Ciena has entered into factoring agreements to sell certain receivables to unrelated third-party financial institution on a non-recourse basis. These transactions result in a reduction in accounts receivable because the agreements transfer effective control over, and risk related to, the receivables to the buyers. Ciena's factoring agreements do not allow for recourse in the event of uncollectability, and Ciena does not retain any interest in the underlying accounts receivable once sold. Trade accounts receivables balances sold are removed from the consolidated balance sheets and cash received is reflected as cash provided by (used in) operating activities in the Consolidated Statements of Cash Flow. Factoring related interest expense is recorded to interest and other income, net on the Consolidated Statements of Operations. See Note 8 below. Research and Development Ciena charges all research and development costs to expense as incurred. Types of expense incurred in research and development include employee compensation, prototype equipment, consulting and third-party services, depreciation, facility costs and information technology. Government Grants Ciena accounts for proceeds from government grants as a reduction of expense when there is reasonable assurance that Ciena has met the required conditions associated with the grant and that grant proceeds will be received. Grant benefits are recorded to the particular line item of the Consolidated Statement of Operations to which the grant activity relates. Advertising Costs Ciena expenses all advertising costs as incurred. Legal Costs Ciena expenses legal costs associated with litigation as incurred. Share-Based Compensation Expense Ciena measures and recognizes compensation expense for share-based awards and employee stock purchases related to its Amended and Restated 2003 Employee Stock Purchase Plan (the “ESPP”) based on estimated fair values on the date of grant. Ciena estimates the fair value of employee stock purchases related to the ESPP using the Black-Scholes option-pricing model. Ciena recognizes the estimated fair value of restricted stock units subject only to service-based vesting conditions by multiplying the number of shares underlying the award by the closing price per share of Ciena common stock on the grant date. Share-based compensation expense for service-based restricted stock unit awards is recognized ratably over the vesting period on a straight-line basis in the Consolidated Statements of Operations. Awards with performance-based vesting conditions: (i) require the achievement of certain operational, financial or other performance criteria or targets; or (ii) vest based on Ciena’s total stockholder return as compared to an index of peer companies, in whole or in part. Ciena estimates the fair value of restricted stock units subject to performance-based vesting conditions, other than total stockholder return, by assuming the satisfaction of any performance-based objectives at the “target” level and multiplying the corresponding number of shares earned based upon such achievement by the closing price per share of Ciena common stock on the grant date. Share-based compensation expense, for performance-based restricted stock units other than total stockholder return, is recognized over the performance period, using graded vesting, which considers each performance period or tranche separately, based on Ciena’s determination of whether it is probable that the performance targets will be achieved and is included in the Consolidated Statements of Operations. At the end of each reporting period, Ciena reassesses the probability of achieving the performance targets and the performance period required to meet those targets. Share-based compensation expense for restricted stock units subject only to service-based vesting conditions and restricted stock units subject to performance-based vesting conditions other than total stockholder return, is recognized only for those awards that ultimately vest. In the event of a forfeiture of an award, the expense related to the unvested portion of that award is reversed. Ciena estimates the fair value of performance based awards subject to total stockholder return as compared to an index of peer companies using a Monte Carlo simulation valuation model on the date of grant and recognizes the related share-based compensation expense over the performance period. Ciena reverses share-based compensation expense on performance based awards subject to total stockholder return only when the requisite service period is not reached. See Note 23 below. Stock Repurchase Program Shares repurchased pursuant to Ciena’s stock repurchase program are immediately retired upon purchase. Repurchased common stock is reflected as a reduction of stockholders’ equity. Ciena’s accounting policy related to its share repurchases is to reduce its common stock based on the par value of the shares and to reduce its capital surplus for the excess of the repurchase price over the par value. Since the inception of its stock repurchase programs, Ciena has had an accumulated deficit balance, therefore, the excess over the par value has been applied to additional paid-in capital. Once Ciena has retained earnings, the excess will be charged entirely to retained earnings. Income Taxes Ciena accounts for income taxes using an asset and liability approach. This approach recognizes deferred tax assets and liabilities (“DTA”) for the expected future tax consequences attributable to differences between the carrying amounts of assets and liabilities for financial reporting purposes and their respective tax bases, and for operating loss and tax credit carryforwards. In estimating future tax consequences, Ciena considers all expected future events other than the enactment of changes in tax laws or rates. Valuation allowances are provided if, based on the weight of the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. In the ordinary course of business, transactions occur for which the ultimate outcome may be uncertain. In addition, tax authorities periodically audit Ciena’s income tax returns. These audits examine significant tax filing positions, including the timing and amounts of deductions and the allocation of income tax expenses among tax jurisdictions. Ciena is currently under audit in India for 2020 through 2023, in Canada for 2014, and in the United Kingdom for 2016 through 2022. Management does not expect the outcome of these audits to have a material adverse effect on Ciena’s consolidated financial position, results of operations or cash flows. Ciena’s major tax jurisdictions and the earliest open tax years are as follows: United States (2021), United Kingdom (2016), Canada (2014), and India (2020). Limited adjustments can be made to federal U.S. tax returns in earlier years in order to reduce net operating loss carryforwards. Ciena classifies interest and penalties related to uncertain tax positions as a component of income tax expense. Ciena is required to record excess tax benefits or tax deficiencies related to stock-based compensation as income tax benefit or expense when share-based awards vest or are settled. Ciena is electing to use the period cost method for future global intangible low-taxed income (“GILTI”) inclusions. Loss Contingencies Ciena is subject to the possibility of various losses arising in the ordinary course of business. These may relate to disputes, litigation and other legal actions. Ciena considers the likelihood of loss or the incurrence of a liability, as well as Ciena’s ability to estimate the amount of loss reasonably, in determining loss contingencies. An estimated loss contingency is accrued when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. Ciena regularly evaluates current information available to it in order to determine whether any accruals should be adjusted and whether new accruals are required. Fair Value of Financial Instruments The carrying value of Ciena’s cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximates fair market value due to the relatively short period of time to maturity. For information related to the fair value of Ciena’s short-term and long-term debt, see Note 18 below. Fair value for the measurement of financial assets and liabilities is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. Ciena utilizes a valuation hierarchy for disclosure of the inputs for fair value measurement. This hierarchy prioritizes the inputs into three broad levels as follows: •Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities; •Level 2 inputs are quoted prices for identical or similar assets or liabilities in less active markets or model-derived valuations in which significant inputs are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument; and •Level 3 inputs are unobservable inputs based on Ciena’s assumptions used to measure assets and liabilities at fair value. The fair values are determined based on model-based techniques using inputs Ciena could not corroborated with market data. By distinguishing between inputs that are observable in the marketplace, and therefore more objective, and those that are unobservable, and therefore more subjective, the hierarchy is designed to indicate the relative reliability of the fair value measurements. A financial asset’s or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. Restructuring From time to time, Ciena takes actions to align its workforce, facilities, and operating costs with perceived market opportunities, business strategies, and changes in market and business conditions, and to redesign business processes. Ciena recognizes a liability for the cost associated with an exit or disposal activity in the period in which the liability is incurred, except for one-time employee termination benefits related to a service period, typically of more than 60 days, which are accrued over the service period. See Note 4 below. Foreign Currency Certain of Ciena’s foreign branch offices and subsidiaries use the U.S. Dollar as their functional currency because Ciena Corporation, as the U.S. parent entity, exclusively funds the operations of these branch offices and subsidiaries. For those subsidiaries using the local currency as their functional currency, assets and liabilities are translated at exchange rates in effect at the balance sheet date, and the statement of operations is translated at a monthly average rate. Resulting translation adjustments are recorded directly to a separate component of stockholders’ equity. Where the monetary assets and liabilities are transacted in a currency other than the entity’s functional currency, re-measurement adjustments are recorded in interest and other income, net on the Consolidated Statements of Operations. See Note 5 below. Derivatives From time to time, Ciena uses foreign currency forward contracts to reduce variability in certain forecasted non-U.S. Dollar denominated cash flows. Generally, these derivatives have maturities of 24 months or less. Ciena also has interest rate swap arrangements to reduce variability in certain forecasted interest expense associated with its term loans. All of these derivatives are designated as cash flow hedges. Ciena also uses foreign currency forward contracts to minimize the effect of foreign exchange rate movements on its net investments in foreign operations. Generally, these derivatives have maturities of 24 months or less. These derivatives are designated as net investment hedges. At the inception of these hedges, and on an ongoing basis, Ciena assesses whether the derivative has been effective in offsetting changes attributable to the hedged risk during the hedging period. The derivative’s net gain or loss is initially reported as a component of accumulated other comprehensive loss and, upon occurrence of the forecasted transaction, is subsequently reclassified to the line item in the Consolidated Statements of Operations to which the hedged transaction relates. Ciena records derivative instruments in the Consolidated Statements of Cash Flows within operating, investing, or financing activities consistent with the cash flows of the hedged items. From time to time, Ciena uses foreign currency forward contracts to hedge certain balance sheet foreign exchange exposures. These forward contracts 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 Consolidated Statements of Operations. See Notes 7 and 15 below. Computation of Net Income per Share Ciena calculates basic net income per common share (“Basic EPS”) by dividing earnings attributable to common stock by the weighted average number of common shares outstanding for the period. Diluted net income per potential common share (“Diluted EPS”) includes other potential dilutive shares that would be outstanding if securities or other contracts to issue common stock were exercised or converted into common stock. Ciena uses a dual presentation of Basic EPS and Diluted EPS on the face of its income statement. A reconciliation of the numerator and denominator used for the Basic EPS and Diluted EPS computations is set forth in Note 20 below. Software Development Costs Ciena develops software for sale to its customers. GAAP requires the capitalization of certain software development costs that are incurred subsequent to the date that technological feasibility is established and prior to the date the product is generally available for sale. The capitalized cost is then amortized using the straight-line method over the estimated life of the product. Ciena defines technological feasibility as being attained at the time a working model is completed. To date, the period between Ciena achieving technological feasibility and the general availability of such software has been short, and software development costs qualifying for capitalization have been insignificant. Accordingly, Ciena has not capitalized any software development costs. 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. Ciena is currently evaluating the impact of this accounting standard update 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 to decision makers. ASU 2023-09 is effective for annual periods beginning in fiscal 2026 and will result in changes to certain of its income tax disclosures including substantially more information on a disaggregated basis, but it does not affect recognition or measurement of income taxes and therefore is not expected to have a material effect on our consolidated financial statements. In November 2024, the FASB issued ASU No. 2024-03 (“ASU 2024-03”), Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) to improve financial reporting by requiring that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027; 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 Securities and Exchange Commission (the “SEC”) adopted final rules under SEC Release No. 33-11275, The Enhancement and Standardization of Climate Related Disclosures for Investors, to require registrants to provide certain climate-related information in their registration statements and annual reports. The rules would 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 would also include disclosure of a registrant's greenhouse gas emissions. Finally, the rules would require registrants to present certain climate-related financial metrics in their audited financial statements. 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.

Cover - USD ($) $ in Billions	12 Months Ended
Cover - USD ($) $ in Billions	Nov. 02, 2024	Dec. 13, 2024	Apr. 26, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Nov. 02, 2024
Current Fiscal Year End Date	--11-02
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, $0.01 par value
Trading Symbol	CIEN
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 6.7
Entity Common Stock, Shares Outstanding		142,115,595
Documents Incorporated by Reference	Part III of the Form 10-K incorporates by reference certain portions of the registrant’s definitive proxy statement for its 2025 Annual Meeting of Stockholders, which is expected to be filed with the Commission not later than 120 days after the end of the fiscal year covered by this annual report.
Entity Central Index Key	0000936395
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

INTEREST AND OTHER INCOME, NET - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Other Income and Expenses [Abstract]
Gain on equity investments, net	$ 0	$ 26,368	$ 4,120
Foreign currency exchange gains (losses)	(11,653)	(427)	2,501
Gains (losses) on non-hedge designated foreign currency forward contracts	$ 1,377	$ (3,896)	$ (4,018)

INVENTORIES

12 Months Ended

Nov. 02, 2024

Inventory Disclosure [Abstract]

INVENTORIES

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


	November 2, 2024		October 28, 2023
Raw materials	$	542,785	$	664,797
Work-in-process	32,219		55,242
Finished goods	324,697		314,168
Deferred cost of goods sold	27,902		66,634
Gross inventories	927,603		1,100,841
Reserve for excess and obsolescence	(107,173)		(50,003)
Inventories, net	$	820,430	$	1,050,838

Ciena has expanded its manufacturing capacity and accumulating raw materials inventory of components that were 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 fiscal 2024 Ciena reduced its raw materials inventory of components primarily due to the consumption of raw materials previously purchased.

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. 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 fiscal 2024, fiscal 2023 and fiscal 2022, Ciena recorded a provision for excess and obsolescence of $77.3 million, $29.5 million, and $16.2 million, respectively, primarily related to a decrease in the forecasted demand for certain Networking Platforms products primarily sold to communications service providers. Deductions from the provision for excess and obsolete inventory relate primarily to the sale of previously reserved items and disposal activities.

The following table summarizes the activity in Ciena’s reserve for excess and obsolete inventory for the fiscal years indicated (in thousands):


Year Ended	Beginning Balance		Provisions		Disposals		Ending Balance
October 29, 2022	$	36,959	$	16,184	$	17,057	$	36,086
October 28, 2023	$	36,086	$	29,464	$	15,547	$	50,003
November 2, 2024	$	50,003	$	77,341	$	20,171	$	107,173

INTEREST AND OTHER INCOME, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Other Income and Expenses [Abstract]
Interest income	$ 62,121	$ 45,011	$ 10,060
Gains (losses) on non-hedge designated foreign currency forward contracts	1,377	(3,896)	(4,018)
Foreign currency exchange gains (losses)	(11,653)	(427)	2,501
Gain on equity investments, net	0	26,368	4,120
Other	(1,584)	(5,048)	(5,916)
Interest and other income, net	$ 50,261	$ 62,008	$ 6,747

EARNINGS PER SHARE CALCULATION - Earnings Per Share Calculation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Earnings Per Share [Abstract]
Net income	$ 83,956	$ 254,827	$ 152,902
Basic weighted average shares outstanding (in shares)	144,715	148,971	151,208
Effect of dilutive potential common shares (in shares)	1,249	409	985
Diluted weighted average shares outstanding (in shares)	145,964	149,380	152,193
Basic EPS (in dollars per share)	$ 0.58	$ 1.71	$ 1.01
Diluted EPS (in dollars per share)	$ 0.58	$ 1.71	$ 1.00
Antidilutive employee share-based awards, excluded (in shares)	1,057	2,675	1,370

- Definition

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

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- 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.

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- Definition

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

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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Net income	$ 83,956	$ 254,827	$ 152,902
Change in unrealized gain (loss) on available-for-sale securities, net of tax	1,170	2,593	(2,801)
Change in cumulative translation adjustments	(3,096)	(5,321)	(49,446)
Other comprehensive income gain (loss)	(8,944)	8,878	(47,084)
Total comprehensive income	75,012	263,705	105,818
Change in unrealized gain (loss) on foreign currency forward contracts, net of tax
Change in unrealized gain (loss) on derivatives	3,276	2,041	(16,413)
Change in unrealized gain (loss) on interest rate swaps, net of tax
Change in unrealized gain (loss) on derivatives	$ (10,294)	$ 9,565	$ 21,576

- 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.

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- Definition

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

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CASH EQUIVALENT, SHORT-TERM AND LONG-TERM INVESTMENTS - Legal Maturities of Debt Investments (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Amortized Cost
Less than one year	$ 408,519
Due in 1-2 years	80,879
Amortized Cost	489,398	$ 368,773
Estimated Fair Value
Less than one year	409,208
Due in 1-2 years	80,920
Estimated Fair Value	$ 490,128	$ 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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-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481830/320-10-45-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(6))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479130/326-30-45-1

+ Details

SIGNIFICANT ASSET IMPAIRMENT AND RESTRUCTURING COSTS (Details) $ in Thousands	12 Months Ended
	Nov. 02, 2024 USD ($) employee	Oct. 28, 2023 USD ($) employee	Oct. 29, 2022 USD ($) employee
Activity and balance of the restructuring liability accounts
Balance at beginning of period	$ 1,913	$ 5,835	$ 781
Charges	24,592	23,834	29,970
Cash payments	(24,578)	(27,756)	(24,916)
Balance at end of period	$ 1,927	$ 1,913	$ 5,835
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Significant asset impairments and restructuring costs	Significant asset impairments and restructuring costs	Significant asset impairments and restructuring costs
Current restructuring liabilities	$ 1,927
Workforce reduction
Activity and balance of the restructuring liability accounts
Balance at beginning of period	1,913	$ 1,215	$ 781
Charges	15,408	6,885	3,156
Cash payments	(15,394)	(6,187)	(2,722)
Balance at end of period	1,927	$ 1,913	$ 1,215
Current restructuring liabilities	$ 1,927
Number of employee reduction \| employee	420	120	60
Other restructuring activities
Activity and balance of the restructuring liability accounts
Balance at beginning of period	$ 0	$ 4,620	$ 0
Charges	9,184	16,949	26,814
Cash payments	(9,184)	(21,569)	(22,194)
Balance at end of period	0	$ 0	$ 4,620
Current restructuring liabilities	$ 0

OTHER BALANCE SHEET DETAILS

12 Months Ended

Nov. 02, 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):


	November 2, 2024		October 28, 2023
Maintenance spares inventory, net	$	77,918	$	54,042
Equity investments(1)	21,730		48
Deferred compensation plan assets	16,519		11,456
Interest rate swaps	11,777		24,953
Capitalized contract acquisition costs	8,111		6,879
Cloud computing arrangements(2)	5,641		8,589
Deferred debt issuance costs, net(3)	1,733		1,956
Restricted cash	163		168

Other	11,102		8,362
	$	154,694	$	116,453

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

(2) During fiscal 2024, fiscal 2023 and fiscal 2022, Ciena recorded amortization of cloud computing arrangements of $4.9 million, $2.6 million and $2.8 million, respectively.

(3) Deferred debt issuance costs relate to Ciena’s senior secured revolving credit facility (the “Revolving Credit Facility”) entered into during fiscal 2023 and its predecessor asset-backed credit facility (described in Note 19 below). The amortization of deferred debt issuance costs for the Revolving Credit Facility and its predecessor is included in interest expense, and was $0.3 million for fiscal 2024 and $0.4 million for both fiscal 2023 and fiscal 2022.

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


	November 2, 2024		October 28, 2023
Compensation, payroll related tax and benefits	$	148,732	$	159,530
Warranty	55,267		57,089
Vacation	31,250		29,503
Income taxes payable	35,111		16,341
Foreign currency forward contracts	9,155		14,509
Interest payable	6,120		4,514
Finance lease liabilities	4,395		3,953
Other	103,875		145,980
	$	393,905	$	431,419

The following table summarizes the activity in Ciena’s accrued warranty for the fiscal years presented (in thousands):


Year Ended	Beginning Balance		Current Year Provisions		Settlements		Ending Balance
October 29, 2022	$	48,019	$	17,440	$	(19,956)	$	45,503
October 28, 2023	$	45,503	$	31,742	$	(20,156)	$	57,089
November 2, 2024	$	57,089	$	25,643	$	(27,465)	$	55,267

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


	November 2, 2024		October 28, 2023
Products	$	19,017	$	28,353
Services	218,602		200,107
Total deferred revenue	237,619		228,460
Less current portion	(156,379)		(154,419)
Long-term deferred revenue	$	81,240	$	74,041

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


	November 2, 2024		October 28, 2023
Income tax liability	$	113,365	$	98,259

Finance lease liabilities	43,522		48,192
Deferred compensation plan liability	16,509		11,444
Other	12,542		12,512
	$	185,938	$	170,407

INCOME TAXES

12 Months Ended

Nov. 02, 2024

Income Tax Disclosure [Abstract]

INCOME TAXES

For the periods indicated, the provision for income taxes consists of the following (in thousands):


	Year Ended
	November 2, 2024		October 28, 2023		October 29, 2022
Provision for income taxes:
Current:
Federal	$	70,208	$	36,537	$	27,479
State	14,106		18,860		10,289
Foreign	28,390		28,281		19,337
Total current	112,704		83,678		57,105
Deferred:
Federal	(52,300)		(8,010)		(30,032)
State	(4,868)		(17,354)		520
Foreign	(19,642)		10,512		2,010
Total deferred	(76,810)		(14,852)		(27,502)
Provision for income taxes	$	35,894	$	68,826	$	29,603

For the periods indicated, income before provision for income taxes consists of the following (in thousands):


	Year Ended
	November 2, 2024		October 28, 2023		October 29, 2022
United States	$	244	$	93,682	$	28,784
Foreign	119,606		229,971		153,721
Total	$	119,850	$	323,653	$	182,505

Ciena’s foreign income tax as a percentage of foreign income may appear disproportionate compared to the expected tax based on the U.S. federal statutory rate and is dependent on the mix of earnings and tax rates in foreign jurisdictions.

For the periods indicated, the tax provision reconciles to the amount computed by multiplying income before income taxes by the U.S. federal statutory rate of 21% for fiscal 2024, fiscal 2023 and fiscal 2022 as follows:


	Year Ended
	November 2, 2024		October 28, 2023		October 29, 2022
Provision at statutory rate	21.00	%	21.00	%	21.00	%
State taxes	5.60	%	1.65	%	2.31	%
Withholding and other foreign taxes	3.53	%	(0.09)	%	(1.37)	%
Research and development credit	(40.23)	%	(16.78)	%	(23.66)	%
Non-deductible compensation	13.92	%	5.29	%	5.26	%
U.S. Taxation on foreign activity	9.59	%	5.08	%	1.73	%
Foreign Nontaxable interest	(2.96)	%	(1.06)	%	(1.90)	%
Taxation on foreign inflation	3.03	%	1.34	%	1.41	%
Rate change	4.46	%	(3.71)	%	1.27	%
Valuation allowance	2.15	%	9.44	%	8.35	%
Loss on equity transactions	—	%	(1.72)	%	—	%
Uncertain tax positions	8.09	%	1.72	%	1.62	%
Other	1.77	%	(0.89)	%	0.20	%
Effective income tax rate	29.95	%	21.27	%	16.22	%

Ciena’s future income tax provisions and deferred tax balances may be affected by the amount of pre-tax income, the jurisdictions where it is earned, the existence and ability to utilize tax attributes and changes in tax laws and business reorganizations.

The significant components of deferred tax assets are as follows (in thousands):


	Year Ended
	November 2, 2024		October 28, 2023
Deferred tax assets:
Reserves and accrued liabilities	$	79,272	$	82,160
Depreciation and amortization	760,685		712,098
NOL and credit carry forward	211,792		197,984
Other	26,574		6,934
Gross deferred tax assets	1,078,323		999,176
Valuation allowance	(192,447)		(189,870)
Deferred tax asset, net of valuation allowance	$	885,876	$	809,306

A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties, is as follows (in thousands):


	Amount
Unrecognized tax benefits at October 30, 2021	$	77,091
Increase related to positions taken in prior period	4,732
Reductions related to settlements with taxing authorities	(3,229)
Increase related to positions taken in current period	2,959
Reductions related to expiration of statute of limitations	(1,039)
Unrecognized tax benefits at October 29, 2022	80,514
Increase related to positions taken in prior period	9,940
Reductions related to settlements with taxing authorities	(625)
Increase related to positions taken in current period	4,960
Reductions related to expiration of statute of limitations	(869)
Unrecognized tax benefits at October 28, 2023	93,920
Increase related to positions taken in prior period	11,482
Reductions related to settlements with taxing authorities	(4,345)
Increase related to positions taken in current period	4,340
Reductions related to expiration of statute of limitations	(116)
Unrecognized tax benefits at November 2, 2024	$	105,281

As of November 2, 2024 and October 28, 2023, Ciena had accrued $16.3 million and $7.9 million of interest and penalties, respectively, related to unrecognized tax benefits included in other long-term obligations on the Consolidated Balance Sheets. Interest and penalties of $8.2 million, $2.7 million and $1.7 million were recorded as a net expense to the provision for income taxes during fiscal 2024, fiscal 2023 and fiscal 2022, respectively. If recognized, the entire balance of unrecognized tax benefits would impact the effective tax rate.

Changes in tax laws, regulations, administrative practices, and interpretations may impact Ciena’s tax contingencies. Due to various factors, the amounts ultimately paid, if any, upon the resolution of the issues raised by the taxing authorities may differ from the amounts accrued. It is reasonably possible that within the next twelve months Ciena will receive additional assessments by various tax authorities or possibly reach resolution of income tax controversies in one or more various jurisdictions. These factors could result in changes to our contingencies related to positions on prior years’ tax filings. Ciena cannot currently provide an estimate of potential changes. As statutes of limitation expire, unrecognized tax benefits including interest and penalties related to contingencies may be reversed, resulting in an income tax benefit. Over the next twelve months,

Ciena estimates that statutes on approximately $26.4 million of unrecognized tax benefits may expire, which would result in a net tax benefit.

As of November 2, 2024, we have approximately $93.0 million of undistributed earnings at our foreign subsidiaries that we identified in fiscal 2023 as no longer indefinitely reinvested and $1.5 million of deferred tax liability remaining on Ciena’s Consolidated Balance sheets for the income tax effects related to the future repatriation of these earnings. No additional income tax expense has been provided for any remaining undistributed foreign earnings, or any additional outside basis difference from investments in the foreign subsidiaries, as these amounts continue to be indefinitely reinvested. If remaining undistributed foreign earnings and profits of $415.0 million were repatriated to the U.S., the provisional amount of unrecognized deferred tax liability, which is primarily related to foreign withholding taxes, is an estimated $34.0 million; however, the amount may be lower depending on Ciena’s ability to utilize tax credits associated with the distribution. Additionally, there are no other significant temporary differences for which a deferred tax liability or asset is not being recognized.

As of November 2, 2024, Ciena continues to maintain a valuation allowance of $192.4 million against its gross deferred tax assets primarily. The valuation allowance is primarily related to state and foreign net operating losses and credits that Ciena estimates that it will not be able to use.

The following table summarizes the activity in Ciena’s valuation allowance against its gross deferred tax assets (in thousands):


Year Ended	Beginning Balance		Additions		Deductions		Ending Balance
October 29, 2022	$	159,634	$	15,245	$	12,803	$	162,076
October 28, 2023	$	162,076	$	28,746	$	952	$	189,870
November 2, 2024	$	189,870	$	16,816	$	14,239	$	192,447

As of November 2, 2024, Ciena had a $31.0 million net operating loss carry forward for U.S. federal income tax which does not expire, and $150.0 million net operating loss carry forwards for U.S. state income taxes which begin to expire in fiscal 2027. As of November 2, 2024, Ciena also had a $174.0 million net operating loss carry forward in non-U.S. jurisdictions which begin to expire in fiscal 2029. Ciena’s ability to use U.S. federal net operating losses is subject to limitations pursuant to the ownership change rules of the Internal Revenue Code Section 382.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

SHORT-TERM AND LONG-TERM DEBT - Narrative (Details) - USD ($) $ in Thousands			12 Months Ended
	Oct. 24, 2023	Jan. 19, 2023	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022	Jan. 18, 2022
Debt Instrument [Line Items]
Proceeds from issuance			$ 0	$ 830	$ 0
2030 Term Loan
Debt Instrument [Line Items]
Principal Balance		$ 1,250
Debt instrument, redemption price, percentage		0.25%
Aggregate principal amount		$ 500,000
Proceeds from issuance of debt		$ 492,500
2030 Term Loan \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		1.50%
2030 Term Loan \| Minimum
Debt Instrument [Line Items]
Debt instrument, stated interest rate		1.00%
2030 Term Loan \| SOFR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		2.50%
2030 Term Loan \| SOFR \| Minimum
Debt Instrument [Line Items]
Debt instrument, stated interest rate		0.00%
2030 New Term Loan
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage	0.25%
2030 New Term Loan \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
2030 New Term Loan \| Minimum
Debt Instrument [Line Items]
Debt instrument, stated interest rate	1.00%
2030 New Term Loan \| SOFR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
2030 New Term Loan \| SOFR \| Minimum
Debt Instrument [Line Items]
Debt instrument, stated interest rate	0.00%
Secured Debt
Debt Instrument [Line Items]
Repayments of debt	$ 1,200,000
Secured Debt \| 2025 Term Loan
Debt Instrument [Line Items]
Repayments of debt	668,700
Deferred debt issuance costs	4,400
Amortization of debt issuance costs included in interest expense				600
Secured Debt \| 2030 Term Loan
Debt Instrument [Line Items]
Original discount	2,200
Amortization of debt issuance costs included in interest expense				500
Secured Debt \| 2030 New Term Loan
Debt Instrument [Line Items]
Principal Balance	1,200,000		1,158,300
Repayments of debt	497,500
Proceeds from issuance	800
Deferred debt issuance costs	6,000		5,594
Original discount	2,900		4,359
Amortization of debt issuance costs included in interest expense			900	100
Long-term debt, fair value			1,200,000
Secured Debt \| 2030 New Term Loan \| New Lenders
Debt Instrument [Line Items]
Deferred debt issuance costs	100
Secured Debt \| 2030 New Term Loan \| Maximum
Debt Instrument [Line Items]
Installment payment	11,700
Secured Debt \| 2030 New Term Loan \| Minimum
Debt Instrument [Line Items]
Installment payment	2,900
Secured Debt \| 2030 Senior Notes 4.00% fixed-rate
Debt Instrument [Line Items]
Principal Balance			400,000
Deferred debt issuance costs			3,573
Long-term debt, fair value			368,000
Secured Debt \| Credit Agreement
Debt Instrument [Line Items]
Debt instrument, accordion feature, increase limit	$ 640,000
Debt instrument, covenant, leverage ratio, maximum	3.00
Debt instrument, covenant, interest coverage ratio, minimum	2.00
Senior Notes \| 2030 Term Loan
Debt Instrument [Line Items]
Debt instrument, stated interest rate		1.00%
Senior Notes \| 2030 New Term Loan
Debt Instrument [Line Items]
Debt instrument, unamortized discount (premium) and debt issuance costs, net			$ 5,600	5,500
Senior Notes \| 2030 Senior Notes 4.00% fixed-rate
Debt Instrument [Line Items]
Debt instrument, stated interest rate			4.00%			4.00%
Debt instrument, unamortized discount (premium) and debt issuance costs, net			$ 3,600	4,300
Amortization of debt issuance costs included in interest expense			$ 700	$ 700
Aggregate principal amount						$ 400,000
Line of Credit \| Credit Agreement
Debt Instrument [Line Items]
Debt instrument, covenant, interest coverage ratio, minimum	3.00
Line of Credit \| The Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 300,000
Debt instrument, stated interest rate	0.00%
Line of Credit \| The Credit Facility \| Maximum \| Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
Line of Credit \| The Credit Facility \| Minimum \| Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.375%

STOCKHOLDERS’ EQUITY (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	2 Months Ended	12 Months Ended
	Feb. 11, 2022	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022	Oct. 02, 2024	Dec. 13, 2021	Dec. 09, 2021
Equity, Class of Treasury Stock [Line Items]
Repurchase of common stock under the stock repurchase program (in shares)		18.6
Repurchase of common stock under the stock repurchase program (in dollars per share)		$ 53.63
Stock repurchases		$ 1,000,000
Net exercise tax		1,400	$ 1,500
Shares repurchased for tax withholdings on vesting of restricted stock units		$ 46,567	$ 38,506	$ 48,454
Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program authorized amount					$ 1,000,000		$ 1,000,000
Repurchase of common stock under the stock repurchase program (in shares)		4.5	5.7	4.8
Repurchase of common stock under the stock repurchase program (in dollars per share)		$ 55.07	$ 44.08	$ 51.53
Stock repurchases		$ 250,000	$ 250,000	$ 250,000
Accelerated Share Repurchase Agreement
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program authorized amount						$ 250,000
Repurchase of common stock under the stock repurchase program (in shares)	3.6
Repurchase of common stock under the stock repurchase program (in dollars per share)	$ 69.78

- Definition

+ References + Details

- Definition

+ References + Details

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 2,848,361	$ 2,712,861	$ 3,020,018
Other comprehensive gain (loss) before reclassifications	1,224	8,417	(54,034)
Amounts reclassified from AOCI	(10,168)	461	6,950
Ending balance	2,816,138	2,848,361	2,712,861
AOCI Attributable to Parent
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(37,767)	(46,645)	439
Ending balance	(46,711)	(37,767)	(46,645)
Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(372)	(2,965)	(164)
Other comprehensive gain (loss) before reclassifications	1,170	2,593	(2,801)
Amounts reclassified from AOCI	0	0	0
Ending balance	798	(372)	(2,965)
Unrealized Gain/Losses on Derivative Instruments \| Foreign Currency Forward Contracts
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(8,156)	(10,197)	6,216
Other comprehensive gain (loss) before reclassifications	(1,424)	(8,455)	(16,299)
Amounts reclassified from AOCI	4,700	10,496	(114)
Ending balance	(4,880)	(8,156)	(10,197)
Unrealized Gain/Losses on Derivative Instruments \| Interest Rate Swaps
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	18,962	9,397	(12,179)
Other comprehensive gain (loss) before reclassifications	4,574	19,600	14,512
Amounts reclassified from AOCI	(14,868)	(10,035)	7,064
Ending balance	8,668	18,962	9,397
Cumulative Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(48,201)	(42,880)	6,566
Other comprehensive gain (loss) before reclassifications	(3,096)	(5,321)	(49,446)
Amounts reclassified from AOCI	0	0	0
Ending balance	$ (51,297)	$ (48,201)	$ (42,880)

OTHER BALANCE SHEET DETAILS - Deferred Revenue (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Disaggregation of Revenue [Line Items]
Total deferred revenue	$ 237,619	$ 228,460
Less current portion	(156,379)	(154,419)
Long-term deferred revenue	81,240	74,041
Products
Disaggregation of Revenue [Line Items]
Total deferred revenue	19,017	28,353
Services
Disaggregation of Revenue [Line Items]
Total deferred revenue	$ 218,602	$ 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

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. 30, 2021		154,858,981
Beginning balance at Oct. 30, 2021	$ 3,020,018	$ 1,549	$ 6,803,162	$ 439	$ (3,785,132)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	152,902				152,902
Other comprehensive (loss) income	(47,084)			(47,084)
Repurchases of common stock - repurchase program, net (in shares)		(8,433,957)
Repurchases of common stock - repurchase program, net	(500,000)	$ (84)	(499,916)
Issuance of shares from employee equity plans (in shares)		2,807,123
Issuance of shares from employee equity plans	30,348	$ 27	30,321
Share-based compensation expense	105,131		105,131
Shares repurchased for tax withholdings on vesting of stock units awards (in shares)		(819,204)
Shares repurchased for tax withholdings on vesting of stock unit awards	(48,454)	$ (8)	(48,446)
Ending balance (in shares) at Oct. 29, 2022		148,412,943
Ending 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	254,827				254,827
Other comprehensive (loss) income	8,878			8,878
Repurchases of common stock - repurchase program, net (in shares)		(5,672,123)
Repurchases of common stock - repurchase program, net	(251,511)	$ (57)	(251,454)
Issuance of shares from employee equity plans (in shares)		2,900,038
Issuance of shares from employee equity plans	31,357	$ 29	31,328
Share-based compensation expense	130,455		130,455
Shares repurchased for tax withholdings on vesting of stock units awards (in shares)		(810,920)
Shares repurchased for tax withholdings on vesting of stock unit awards	$ (38,506)	$ (8)	(38,498)
Ending balance (in shares) at Oct. 28, 2023	144,829,938	144,829,938
Ending 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	83,956
Other comprehensive (loss) income	(8,944)			(8,944)
Repurchases of common stock - repurchase program, net (in shares)		(4,539,828)
Repurchases of common stock - repurchase program, net	(251,363)	$ (45)	(251,318)
Issuance of shares from employee equity plans (in shares)		3,312,473
Issuance of shares from employee equity plans	34,291	$ 33	34,258
Share-based compensation expense	156,404		156,404
Shares repurchased for tax withholdings on vesting of stock units awards (in shares)		(946,467)
Shares repurchased for tax withholdings on vesting of stock unit awards	$ (46,567)	$ (9)	(46,558)
Ending balance (in shares) at Nov. 02, 2024	142,656,116	142,656,116
Ending balance at Nov. 02, 2024	$ 2,816,138	$ 1,427	$ 6,154,869	$ (46,711)	$ (3,293,447)

OTHER BALANCE SHEET DETAILS - Other Long Term Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Other long-term assets
Maintenance spares inventory, net	$ 77,918	$ 54,042
Equity investments	21,730	48
Deferred compensation plan assets	$ 16,519	$ 11,456
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Total	Total
Interest rate swaps	$ 11,777	$ 24,953
Capitalized contract acquisition costs	8,111	6,879
Cloud computing arrangements	5,641	8,589
Deferred debt issuance costs, net	1,733	1,956
Restricted cash	163	168
Other	11,102	8,362
Total	154,694	116,453
Amortization of cloud computing arrangements	4,900	2,600	$ 2,800
Revolving Credit Facility
Other long-term assets
Amortization of debt issuance costs included in interest expense	$ 300	$ 400	$ 400

GOODWILL

12 Months Ended

Nov. 02, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL

The following table presents the goodwill allocated to Ciena’s operating segments as of November 2, 2024 and October 28, 2023, as well as the changes to goodwill during fiscal 2024 (in thousands):


	Balance at October 28, 2023		Translation		Balance at November 2, 2024
Platform Software and Services	$	156,191	$	—	$	156,191
Blue Planet Automation Software and Services	89,049		—		89,049
Networking Platforms	199,525		(58)		199,467
Total	$	444,765	$	(58)	$	444,707

INCOME TAXES - Income Before Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Income (loss) before provision (benefit) for income taxes:
United States	$ 244	$ 93,682	$ 28,784
Foreign	119,606	229,971	153,721
Income before income taxes	$ 119,850	$ 323,653	$ 182,505

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

FAIR VALUE MEASUREMENTS

12 Months Ended

Nov. 02, 2024

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

As of the dates indicated, the following tables summarize the fair value of assets and liabilities that were recorded at fair value on a recurring basis (in thousands):


	November 2, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	636,097	$	—	$	—	$	636,097
Bond mutual fund	112,703		—		—		112,703
Time deposits	92,804		—		—		92,804
Deferred compensation plan assets	16,519		—		—		16,519
U.S. government obligations	—		286,181		—		286,181
Corporate debt securities	—		111,143		—		111,143
Foreign currency forward contracts	—		2,149		—		2,149
Interest rate swaps	—		11,777		—		11,777
Total assets measured at fair value	$	858,123	$	411,250	$	—	$	1,269,373

Liabilities:
Foreign currency forward contracts	$	—	$	9,155	$	—	$	9,155

Total liabilities measured at fair value	$	—	$	9,155	$	—	$	9,155


	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
Commercial paper	—		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 were presented on Ciena’s Consolidated Balance Sheets as follows (in thousands):


	November 2, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	832,239	$	9,426	$	—	$	841,665
Short-term investments	9,365		306,978		—		316,343
Prepaid expenses and other	—		2,149		—		2,149
Long-term investments	—		80,920		—		80,920
Other long-term assets	16,519		11,777		—		28,296
Total assets measured at fair value	$	858,123	$	411,250	$	—	$	1,269,373

Liabilities:
Accrued liabilities and other short-term obligations	$	—	$	9,155	$	—	$	9,155


Total liabilities measured at fair value	$	—	$	9,155	$	—	$	9,155


	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

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022	Oct. 30, 2021
Income Tax Disclosure [Abstract]
Unrecognized tax benefits, interest and penalties accrued	$ 16,300	$ 7,900
Interest and penalties expense (benefit)	8,200	2,700	$ 1,700
Unrecognized tax benefits, lapse of applicable statute of limitations expiration amount	26,400
Undistributed earnings of foreign subsidiaries retained	93,000
Deferred tax liabilities	1,500
Foreign earnings and profits repatriated	415,000
Cumulative amount of temporary differences for unremitted foreign earnings for which a deferred tax liability has not been recognized	34,000
Valuation allowance	192,447	$ 189,870	$ 162,076	$ 159,634
Domestic Tax Jurisdiction
Operating Loss Carryforwards [Line Items]
Net operating loss carry forward	31,000
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Net operating loss carry forward	150,000
Foreign Tax Jurisdiction
Operating Loss Carryforwards [Line Items]
Net operating loss carry forward	$ 174,000

SHARE-BASED COMPENSATION EXPENSE

12 Months Ended

Nov. 02, 2024

Share-Based Payment Arrangement [Abstract]

SHARE-BASED COMPENSATION EXPENSE

Ciena has outstanding equity awards issued under its 2017 Omnibus Incentive Plan (the “2017 Plan”), its 2008 Omnibus Incentive Plan, and certain legacy equity plans and equity plans assumed as a result of previous acquisitions. All equity awards granted on or after March 23, 2017 are made exclusively from the 2017 Plan. Ciena also makes shares of its common stock available for purchase under the ESPP. Each of the 2017 Plan and the ESPP is described below.

2017 Plan

At Ciena’s 2024 Annual Meeting of Stockholders that was held on March 21, 2024, Ciena’s stockholders approved an amendment to 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.

The 2017 Plan has a ten-year term and authorizes the issuance of awards including stock options, restricted stock units (RSUs), restricted stock, unrestricted stock, stock appreciation rights (SARs), and other equity and/or cash performance incentive awards to employees, directors and consultants of Ciena. Subject to certain restrictions, the Compensation Committee of the Board of Directors has broad discretion to establish the terms and conditions for awards under the 2017 Plan, including the number of shares, vesting conditions, and the required service or performance criteria. Options and SARs have a maximum term of ten years, and their exercise price may not be less than 100% of fair market value on the date of grant. Repricing of stock options and SARs is prohibited without stockholder approval. Certain change in control transactions may cause awards granted under the 2017 Plan to vest, unless the awards are continued or substituted for in connection with the transaction.

The 2017 Plan authorizes and reserves 31.2 million shares for issuance. The number of shares available under the 2017 Plan is also increased from time to time by: (i) the number of shares subject to outstanding awards granted under Ciena’s prior equity compensation plans that are forfeited, expire or are canceled without delivery of common stock following the effective date of the 2017 Plan, and (ii) the number of shares subject to awards assumed or substituted in connection with the acquisition

of another company. As of November 2, 2024, the total number of shares authorized for issuance under the 2017 Plan was 31.2 million and approximately 10.9 million shares remained available for issuance thereunder.

Stock Options

There were no stock options granted by Ciena during fiscal 2024, fiscal 2023 or fiscal 2022. There were no stock options outstanding as of November 2, 2024.

The total intrinsic value of options exercised during fiscal 2024, fiscal 2023 and fiscal 2022 was $0.1 million, $0.3 million and $1.6 million, respectively.

Assumptions for Option-Based Awards

Ciena recognizes the fair value of stock options as share-based compensation expense on a straight-line basis over the requisite service period. Ciena did not grant any option-based awards during fiscal 2024, fiscal 2023 or fiscal 2022.

Restricted Stock Units

A restricted stock unit is a stock award that entitles the holder to receive shares of Ciena common stock as the unit vests. Ciena’s outstanding restricted stock unit awards are subject to service-based vesting conditions and/or performance-based vesting conditions. Awards subject to service-based conditions typically vest in increments over a three or four-year period. However, the 2017 Plan permits Ciena to grant service-based stock awards with a minimum one-year vesting period. Awards with performance-based vesting conditions (i) require the achievement of certain operational, financial or other performance criteria or targets or (ii) vest based on Ciena’s total stockholder return as compared to an index of peer companies, in whole or in part.

During fiscal 2023, Ciena introduced a benefit pursuant to which, upon completion of ten years of service and reaching age 60, executive officers who are residents of the United States, the United Kingdom, or Canada, and who provide 12 months’ notice of their retirement, will receive continued vesting of all of their granted but unvested restricted stock unit (“RSU”) awards and a pro-rated amount of their performance stock unit awards and market stock unit awards. Other employees in these and certain other countries will be subject to the same eligibility and notice requirements, but will receive acceleration of their granted but unvested RSU awards upon retirement. This program accelerates the recognition of share-based compensation expense.

Assumptions for Restricted Stock Unit Awards

Ciena recognizes the estimated fair value of restricted stock units subject only to service-based vesting conditions by multiplying the number of shares underlying the award by the closing price per share of Ciena common stock on the grant date. Share-based expense for service-based restricted stock unit awards is recognized ratably over the vesting period on a straight-line basis.

Ciena recognizes the estimated fair value of restricted stock units subject to performance-based vesting conditions other than total stockholder return, by assuming the satisfaction of any performance-based objectives at the “target” level and multiplying the corresponding number of shares earned based upon such achievement by the closing price per share of Ciena common stock on the grant date. Share-based compensation expense is recognized over the performance period, using graded vesting, which considers each performance period or tranche separately, based on Ciena’s determination of whether it is probable that the performance targets will be achieved. At the end of each reporting period, Ciena reassesses the probability of achieving the performance targets and the performance period required to meet those targets. The estimation of whether the performance targets will be achieved involves judgment. Revisions are reflected in the period in which the estimate is changed. If any performance goals are not met, no compensation cost is ultimately recognized against that goal and, to the extent previously recognized, compensation expense is reversed.

Share-based compensation expense for restricted stock units subject only to service-based vesting conditions and restricted stock units subject to performance-based vesting conditions other than total stockholder return, is recognized only for those awards that ultimately vest. In the event of a forfeiture of an award, the expense related to the unvested portion of that award is reversed. Reversal of share-based compensation expense based on forfeitures can materially affect the measurement of estimated fair value of Ciena’s share-based compensation.

Ciena estimates the fair value of performance based awards subject to total stockholder return as compared to an index of peer companies using a Monte Carlo simulation valuation model. Ciena reverses share-based compensation expense on performance based awards subject to total stockholder return only when the requisite service period is not reached. Assumptions for awards granted during fiscal 2024, fiscal 2023 and fiscal 2022 included the following:


	Year Ended
	November 2, 2024	October 28, 2023	October 29, 2022
Expected volatility of Ciena common stock, which is a weighted average of implied volatility and historical volatility	36.00%	40.37%	38.27%
Historical volatility of Ciena common stock	36.74%	43.11%	42.17%
Volatility of S&P Networking Index(1)	44.94%	30.93%	27.22%
Correlation coefficient	0.3665	0.7781	0.7049
Expected life in years	2.89	2.89	2.89
Risk-free interest rate	4.41%	3.95%	0.94%
Expected dividend yield	0.0%	0.0%	0.0%


	Restricted Stock Units Outstanding	Weighted Average Grant Date Fair Value Per Share		Aggregate Fair Value
Balance at October 28, 2023	4,922	$	53.42	$	201,916
Granted	4,080

Vested	(2,382)
Canceled or forfeited	(508)
Balance at November 2, 2024	6,112	$	48.41	$	390,995

As of both November 2, 2024 and October 28, 2023, 0.3 million of the total restricted stock units outstanding are performance based awards subject to total stockholder return. The total fair value of restricted stock units that vested and were converted into common stock during fiscal 2024, fiscal 2023 and fiscal 2022 was $116.9 million, $98.2 million and $119.0 million, respectively. The weighted average fair value of each restricted stock unit granted by Ciena during fiscal 2024, fiscal 2023 and fiscal 2022 was $44.57, $50.48 and $67.03, respectively.

Amended and Restated ESPP

Ciena makes shares of its common stock available for purchase under the ESPP, under which eligible employees may enroll in a twelve-month offer period that begins in December and June of each year. Each offer period includes two six-month purchase periods. Employees may purchase a limited number of shares of Ciena common stock at 85% of the fair market value on either the day immediately preceding the offer date or the purchase date, whichever is lower. The ESPP is considered compensatory for purposes of share-based compensation expense. Unless earlier terminated, the ESPP will terminate on April 1, 2031.

During fiscal 2024, Ciena issued 0.9 million shares and during fiscal 2023 and fiscal 2022, Ciena issued 0.8 million and 0.7 million shares, respectively, under the ESPP. At November 2, 2024, 10.4 million shares remained available for issuance under the ESPP.

Share-Based Compensation Expense

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


	Year Ended
	November 2, 2024		October 28, 2023		October 29, 2022
Products	$	6,474	$	4,518	$	3,867
Services	12,743		10,470		7,533
Share-based compensation expense included in cost of goods sold	19,217		14,988		11,400
Research and development	54,129		42,331		31,879
Sales and marketing	42,954		35,136		31,280
General and administrative	40,053		37,587		30,435

Share-based compensation expense included in operating expense	137,136		115,054		93,594
Share-based compensation expense capitalized in inventory, net	51		413		137
Total share-based compensation	$	156,404	$	130,455	$	105,131

As of November 2, 2024, total unrecognized share-based compensation expense was $212.9 million which relates to unvested restricted stock units and is expected to be recognized over a weighted-average period of 1.33 years.

EQUIPMENT, BUILDING, FURNITURE AND FIXTURES (Tables)

12 Months Ended

Nov. 02, 2024

Property, Plant and Equipment [Abstract]

Schedule of Equipment, Building, Furniture and Fixtures

As of the dates indicated, equipment, building, furniture and fixtures are comprised of the following (in thousands):


	November 2, 2024		October 28, 2023
Equipment, furniture and fixtures	$	788,781	$	676,485
Building subject to finance lease	67,517		67,904
Leasehold improvements	77,451		74,391
Equipment, building, furniture and fixtures	933,749		818,780
Accumulated depreciation and amortization	(596,027)		(538,633)
Equipment, building, furniture and fixtures, net	$	337,722	$	280,147

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Current assets:
Cash and cash equivalents	$ 934,863	$ 1,010,618
Short-term investments	316,343	104,753
Accounts receivable, net	908,597	1,003,876
Inventories, net	820,430	1,050,838
Prepaid expenses and other	564,183	405,694
Total current assets	3,544,416	3,575,779
Long-term investments	80,920	134,278
Equipment, building, furniture and fixtures, net	337,722	280,147
Operating right-of-use assets	27,417	35,140
Goodwill	444,707	444,765
Other intangible assets, net	165,020	205,627
Deferred tax asset, net	886,441	809,306
Other long-term assets	154,694	116,453
Total assets	5,641,337	5,601,495
Current liabilities:
Accounts payable	423,401	317,828
Accrued liabilities and other short-term obligations	393,905	431,419
Deferred revenue	156,379	154,419
Operating lease liabilities	14,455	16,655
Current portion of long-term debt	11,700	11,700
Total current liabilities	999,840	932,021
Long-term deferred revenue	81,240	74,041
Other long-term obligations	185,938	170,407
Long-term operating lease liabilities	25,107	33,259
Long-term debt, net	1,533,074	1,543,406
Total liabilities	2,825,199	2,753,134
Commitments and contingencies (Note 26)
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; 142,656,116 and 144,829,938 shares issued and outstanding	1,427	1,448
Additional paid-in capital	6,154,869	6,262,083
Accumulated other comprehensive loss	(46,711)	(37,767)
Accumulated deficit	(3,293,447)	(3,377,403)
Total stockholders’ equity	2,816,138	2,848,361
Total liabilities and stockholders’ equity	$ 5,641,337	$ 5,601,495

FAIR VALUE MEASUREMENTS - Balance Sheet Items (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Assets:
Total assets measured at fair value	$ 1,269,373	$ 1,171,107
Liabilities:
Total liabilities measured at fair value	9,155	14,509
Level 1
Assets:
Total assets measured at fair value	858,123	915,557
Liabilities:
Total liabilities measured at fair value	0	0
Level 2
Assets:
Total assets measured at fair value	411,250	255,550
Liabilities:
Total liabilities measured at fair value	9,155	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	841,665	894,548
Cash equivalents \| Level 1
Assets:
Cash equivalents	832,239	891,788
Cash equivalents \| Level 2
Assets:
Cash equivalents	9,426	2,760
Cash equivalents \| Level 3
Assets:
Cash equivalents	0	0
Short-term investments
Assets:
Short-term investments	316,343	104,753
Short-term investments \| Level 1
Assets:
Short-term investments	9,365	12,313
Short-term investments \| Level 2
Assets:
Short-term investments	306,978	92,440
Short-term investments \| Level 3
Assets:
Short-term investments	0	0
Prepaid expenses and other
Assets:
Other assets	2,149	1,119
Prepaid expenses and other \| Level 1
Assets:
Other assets	0	0
Prepaid expenses and other \| Level 2
Assets:
Other assets	2,149	1,119
Prepaid expenses and other \| Level 3
Assets:
Other assets	0	0
Long-term investments
Assets:
Long-term investments	80,920	134,278
Long-term investments \| Level 1
Assets:
Long-term investments	0	0
Long-term investments \| Level 2
Assets:
Long-term investments	80,920	134,278
Long-term investments \| Level 3
Assets:
Long-term investments	0	0
Other long-term assets
Assets:
Other assets	28,296	36,409
Other long-term assets \| Level 1
Assets:
Other assets	16,519	11,456
Other long-term assets \| Level 2
Assets:
Other assets	11,777	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	9,155	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	9,155	14,509
Accrued liabilities and other short-term obligations \| Level 3
Liabilities:
Accrued liabilities and other short-term obligations	$ 0	$ 0

INCOME TAXES - Valuation Allowance of Gross Deferred Tax Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Valuation allowance against gross deferred tax assets:
Valuation allowance, beginning balance	$ 189,870	$ 162,076	$ 159,634
Additions	16,816	28,746	15,245
Deductions	14,239	952	12,803
Valuation allowance, ending balance	$ 192,447	$ 189,870	$ 162,076

SIGNIFICANT ASSET IMPAIRMENT AND RESTRUCTURING COSTS - Narrative (Details) $ in Millions	Mar. 07, 2022 USD ($)
Restructuring and Related Activities [Abstract]
Asset impairment charges	$ 3.8
Provision for other credit losses	$ 1.8

Audit Information	12 Months Ended
Audit Information	Nov. 02, 2024
Audit Information [Abstract]
Auditor Firm ID	238
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Baltimore, Maryland

PREPAID EXPENSES AND OTHER (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Capitalized Contract Cost [Line Items]
Cash advances to contract manufacturers	$ 167,337	$ 0
Prepaid VAT and other taxes	106,095	96,724
Prepaid expenses	50,597	58,954
Other non-trade receivables	45,935	33,408
Product demonstration equipment, net	43,245	40,682
Foreign currency forward contracts	2,149	1,118
Deferred deployment expense	596	1,170
Prepaid expenses and other	564,183	405,694
Depreciation of product demonstration equipment	8,300	8,000	$ 8,700
Contract assets for unbilled accounts receivable, net
Capitalized Contract Cost [Line Items]
Capitalized contract costs	127,919	150,312
Capitalized contract acquisition costs
Capitalized Contract Cost [Line Items]
Capitalized contract costs	$ 20,310	$ 23,326

PREPAID EXPENSES AND OTHER

12 Months Ended

Nov. 02, 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):


	November 2, 2024		October 28, 2023
Cash advances to contract manufacturers (1)	$	167,337	$	—
Contract assets for unbilled accounts receivable, net	127,919		150,312
Prepaid VAT and other taxes	106,095		96,724
Prepaid expenses	50,597		58,954
Other non-trade receivables	45,935		33,408
Product demonstration equipment, net (2)	43,245		40,682
Capitalized contract acquisition costs	20,310		23,326
Foreign currency forward contracts	2,149		1,118
Deferred deployment expense	596		1,170


	$	564,183	$	405,694

(2) Depreciation of product demonstration equipment was $8.3 million, $8.0 million and $8.7 million for fiscal 2024, 2023 and 2022, respectively.

For further discussion on contract assets and capitalized contract acquisition costs, see Note 2 above.

CASH EQUIVALENT, SHORT-TERM AND LONG-TERM INVESTMENTS - Short-term and Long-term Investments (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 489,398	$ 368,773
Gross Unrealized Gains	892	33
Gross Unrealized Losses	(162)	(499)
Estimated Fair Value	490,128	368,307
Included in cash equivalents
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	92,865	129,276
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	92,865	129,276
Included in short-term investments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	315,654	105,042
Gross Unrealized Gains	734	4
Gross Unrealized Losses	(45)	(293)
Estimated Fair Value	316,343	104,753
Included in long-term investments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	80,879	134,455
Gross Unrealized Gains	158	29
Gross Unrealized Losses	(117)	(206)
Estimated Fair Value	80,920	134,278
U.S. government obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	285,492	170,260
Gross Unrealized Gains	751	28
Gross Unrealized Losses	(62)	(379)
Estimated Fair Value	286,181	169,909
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	111,103	59,683
Gross Unrealized Gains	137	1
Gross Unrealized Losses	(97)	(115)
Estimated Fair Value	111,143	59,569
Time deposits
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	92,803	138,830
Gross Unrealized Gains	4	4
Gross Unrealized Losses	(3)	(5)
Estimated Fair Value	$ 92,804	$ 138,829

OTHER BALANCE SHEET DETAILS (Tables)

12 Months Ended

Nov. 02, 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):


	November 2, 2024		October 28, 2023
Maintenance spares inventory, net	$	77,918	$	54,042
Equity investments(1)	21,730		48
Deferred compensation plan assets	16,519		11,456
Interest rate swaps	11,777		24,953
Capitalized contract acquisition costs	8,111		6,879
Cloud computing arrangements(2)	5,641		8,589
Deferred debt issuance costs, net(3)	1,733		1,956
Restricted cash	163		168

Other	11,102		8,362
	$	154,694	$	116,453

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

(2) During fiscal 2024, fiscal 2023 and fiscal 2022, Ciena recorded amortization of cloud computing arrangements of $4.9 million, $2.6 million and $2.8 million, respectively.

Schedule of Accrued Liabilities

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


	November 2, 2024		October 28, 2023
Compensation, payroll related tax and benefits	$	148,732	$	159,530
Warranty	55,267		57,089
Vacation	31,250		29,503
Income taxes payable	35,111		16,341
Foreign currency forward contracts	9,155		14,509
Interest payable	6,120		4,514
Finance lease liabilities	4,395		3,953
Other	103,875		145,980
	$	393,905	$	431,419

Schedule of Accrued Warranty

The following table summarizes the activity in Ciena’s accrued warranty for the fiscal years presented (in thousands):


Year Ended	Beginning Balance		Current Year Provisions		Settlements		Ending Balance
October 29, 2022	$	48,019	$	17,440	$	(19,956)	$	45,503
October 28, 2023	$	45,503	$	31,742	$	(20,156)	$	57,089
November 2, 2024	$	57,089	$	25,643	$	(27,465)	$	55,267

Schedule of Deferred Revenue

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


	Balance at November 2, 2024		Balance at October 28, 2023
Accounts receivable, net	$	908,597	$	1,003,876
Contract assets for unbilled accounts receivable, net	$	127,919	$	150,312
Deferred revenue	$	237,619	$	228,460

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


	November 2, 2024		October 28, 2023
Products	$	19,017	$	28,353
Services	218,602		200,107
Total deferred revenue	237,619		228,460
Less current portion	(156,379)		(154,419)
Long-term deferred revenue	$	81,240	$	74,041

Schedule of Other Liabilities

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


	November 2, 2024		October 28, 2023
Income tax liability	$	113,365	$	98,259

Finance lease liabilities	43,522		48,192
Deferred compensation plan liability	16,509		11,444
Other	12,542		12,512
	$	185,938	$	170,407

OTHER BALANCE SHEET DETAILS - Other Long-Term Obligations (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Balance Sheet Related Disclosures [Abstract]
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term obligations	Other long-term obligations
Income tax liability	$ 113,365	$ 98,259
Finance lease liabilities	43,522	48,192
Deferred compensation plan liability	16,509	11,444
Other	12,542	12,512
Other long-term obligations	$ 185,938	$ 170,407

REVOLVING CREDIT FACILITY

12 Months Ended

Nov. 02, 2024

Line of Credit Facility [Abstract]

REVOLVING CREDIT FACILITY

SHORT-TERM AND LONG-TERM DEBT

Outstanding Term Loan Payable

2030 New Term Loan

On October 24, 2023, Ciena, together with certain of its domestic subsidiaries as guarantors, entered into an Incremental Amendment Agreement (the “Amendment”) to its Credit Agreement, dated July 15, 2014, as amended (the “Credit Agreement”), by and among Ciena, certain of its subsidiaries, the lenders party thereto, and Bank of America, N.A., as administrative agent (“Bank of America”), to which Ciena incurred a new tranche of senior secured term loans in an aggregate principal amount of $1.2 billion (the “2030 New Term Loan”) and a new senior secured revolving credit facility of $300 million (the “Revolving Credit Facility” as defined in Note 19 below).

The proceeds of the 2030 New Term Loan, net of original issuance discount, replaced, in full, $668.7 million of outstanding principal of Ciena’s prior senior secured term loan maturing September 28, 2025 (the “2025 Term Loan”) and $497.5 million of outstanding principal of Ciena’s prior senior secured term loan maturing January 19, 2030 (the “2030 Term Loan” and, together with the 2025 Term Loan, the “Refinanced Term Loans”), including accrued interest, and paid transaction fees and expenses, resulting in proceeds of $0.8 million. The 2030 New Term Loan requires Ciena to make installment payments of $2.9 million on a quarterly basis.

Based on the continuation of existing lenders and the addition of new lenders, this arrangement was primarily accounted for as a modification of debt and, as such, $6.0 million of debt issuance costs associated with the 2030 New Term Loan were expensed. The aggregate balance of approximately $4.4 million of debt issuance costs and approximately $2.2 million of original discount from the Refinanced Term Loans, $0.1 million of debt issuance costs associated with new lenders for the 2030 New Term Loan, and approximately $2.9 million of original discount from the 2030 New Term Loan, were included in the carrying value of the 2030 New Term Loan.

The Amendment amends the Credit Agreement and provides that the 2030 New Term Loan will, among other things:

•mature on October 24, 2030;

•amortize in equal quarterly installments in aggregate amounts equal to 0.25% of the principal amount of the 2030 New Term Loan as of January 19, 2023, or $2.9 million, or $11.7 million annually, with the balance payable at maturity;

•be subject to mandatory prepayment upon the occurrence of certain specified events substantially similar to the Refinanced Term Loans, including upon the occurrence of certain specified events such as asset sales, debt issuances, and receipt of annual Excess Cash Flow (as defined in the Credit Agreement);

•bear interest, at Ciena’s election, at a per annum rate equal to (a) SOFR (subject to a floor of 0.00%) plus an applicable margin of 2.00%, or (b) a base rate (subject to a floor of 1.00%) plus an applicable margin of 1.00%; and

Among other things, the Amendment also amends the Credit Agreement by (i) modifying the “accordion” feature to provide for incremental term loan facilities (the “Incremental Term Loans”) in an aggregate amount not to exceed the sum of (A) the greater of (1) $640 million and (2) an amount equal to consolidated EBITDA on a pro forma basis for the most recently ended four-quarter period and (B) an amount (1) in the case of secured incremental term facilities that rank pari passu with or junior to the 2030 New Term Loan, such that the Total Secured Net Leverage Ratio (as defined in the Credit Agreement) would not be greater than 3.00 to 1.00 at the time of incurrence and (2) in the case of unsecured incremental term facilities, such that the Interest Coverage Ratio (as defined in the Credit Agreement) would not be less than 2.00 to 1.00 at the time of incurrence, subject to certain conditions, including obtaining commitments from any one or more lenders, whether or not currently party to the Credit Agreement, to provide such increased amounts and (ii) amending certain negative covenants.

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


	November 2, 2024								October 28, 2023
	Principal Balance		Unamortized Discount		Deferred Debt Issuance Costs		Net Carrying Value		Net Carrying Value
2030 New Term Loan	$	1,158,300	$	(4,359)	$	(5,594)	$	1,148,347	$	1,159,371

Deferred debt issuance costs that were deducted from the carrying amount of the 2030 New Term Loan totaled $5.6 million as of November 2, 2024 and $5.5 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 New Term Loan. The amortization of deferred debt issuance costs for the 2030 New Term Loan is included in interest expense, and was $0.9 million during fiscal 2024 and $0.1 million during fiscal 2023.

As of November 2, 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, were used to repay in full $1.2 billion of outstanding principal of the Refinanced Term Loans, including accrued interest.

2025 Term Loan

On January 19, 2023, in connection with the Incremental Agreement (as defined below) to the Credit Agreement (as defined below), the Credit Agreement was amended to replace LIBOR with SOFR for 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 $0.6 million for 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 $492.5 million in proceeds from the 2030 Term Loan were intended to be used for general corporate purposes.

The Incremental Agreement amended the Credit Agreement and provided that the 2030 Term Loan would, among other things:

•mature on January 19, 2030;

•amortize in equal quarterly installments in aggregate amounts equal to 0.25% of the principal amount of the 2030 Term Loan as of January 19, 2023, or $1.25 million, with the balance payable at maturity;

•be subject to mandatory prepayment on the same basis as the 2025 Term Loan, including on the occurrence of certain specified events such as asset sales, debt issuances, and receipt of annual Excess Cash Flow (as defined in the Credit Agreement);

•bear interest, at Ciena’s election, at a per annum rate equal to (a) SOFR (subject to a floor of 0.00%) plus an applicable margin of 2.50%, or (b) a base rate (subject to a floor of 1.00%) plus an applicable margin of 1.50%; and

•be repayable at any time at Ciena’s election, provided that repayment of the 2030 Term Loan with proceeds of certain indebtedness prior to July 19, 2023 will require a prepayment premium of 1.00% of the aggregate principal amount of such prepayment.

Except as amended by the Incremental Agreement, the remaining terms of the Credit Agreement remained in full force and effect.

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 Term Loan. The amortization of deferred debt issuance costs for the 2030 Term Loan is included in interest expense and was $0.5 million for fiscal 2023.

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% senior notes due 2030 (the “2030 Notes”).

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


	November 2, 2024						October 28, 2023
	Principal Balance		Deferred Debt Issuance Costs		Net Carrying Value		Net Carrying Value
2030 Senior Notes 4.00% fixed-rate	$	400,000	$	(3,573)	$	396,427	$	395,735

Deferred debt issuance costs that were deducted from the carrying amount of the 2030 Notes totaled $3.6 million as of November 2, 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 $0.7 million during fiscal 2024 and fiscal 2023.

As of November 2, 2024, the estimated fair value of the 2030 Notes was $368.0 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.

REVOLVING CREDIT FACILITY

On February 10, 2023, pursuant to an ABL Credit Agreement dated October 28, 2019, as amended (the “ABL Credit Agreement”), by and among Ciena, certain of its subsidiaries, the lenders party thereto, and Bank of America, as administrative agent, Ciena modified its senior secured asset-backed revolving credit facility (the “ABL Credit Facility”), which provided for a total commitment of $300.0 million to extend its maturity date to September 28, 2025.

On October 24, 2023 (the “Closing Date”), pursuant to the Incremental Amendment Agreement to the Credit Agreement (as defined in Note 18 above), Ciena incurred a new senior secured revolving credit facility of $300.0 million (the “Revolving Credit Facility”), which replaced the ABL Credit Facility. Ciena has the option to increase the total revolving commitments under the Revolving Credit Facility to $450.0 million, subject to certain conditions, including obtaining commitments from one or more lenders. The Credit Agreement provides that $200.0 million of the Revolving Credit Facility is available for issuances of letters of credit and allows for swingline loans in an amount not to exceed $50.0 million. On or about the Closing Date,

Ciena transferred to the Revolving Credit Facility certain outstanding letters of credit initially issued under the ABL Credit Facility with an undrawn amount of approximately $65.1 million. There were no borrowings outstanding under the ABL Credit Facility as of the Closing Date. Ciena expects to use the Revolving Credit Facility to support the issuance of letters of credit that arise in the ordinary course of its business and for general corporate purposes.

The Credit Agreement provides that the Revolving Credit Facility will, among other things:

•mature on October 24, 2028;

•bear interest on outstanding borrowings, at Ciena’s election, at a per annum rate equal to (a) SOFR (subject to a floor of 0.00%) plus a credit spread adjustment of 0.10% plus an applicable margin ranging from 1.375% to 2.00%, or (b) a base rate (subject to a floor of 1.00%) plus an applicable margin ranging from 0.375% to 1.00%, in each case, with the actual margin determined according to the Total Net Leverage Ratio (as defined in the Credit Agreement above);

•have a commitment fee payable on the unused portion of the Revolving Credit Facility at a per annum rate ranging from 0.225% to 0.300%, with the actual rate determined according to the Total Net Leverage Ratio; and

•include a restriction on the aggregate amount of Incremental Term Loans and certain other indebtedness that can be incurred in the future equal to an amount that would not result in the Total Net Leverage Ratio exceeding 5.00 to 1.00 at the time of incurrence.

The obligations under the Revolving Credit Facility are guaranteed by all of Ciena’s subsidiaries that currently, or in the future are required to, guarantee the obligations of the 2030 New Term Loan, including, as of the Closing Date, Ciena Communications, Inc., Ciena Government Solutions, Inc., Ciena Communications International, LLC and Blue Planet Software, Inc., and are secured on a pari passu basis with the 2030 New Term Loan by a pledge of substantially all of the assets of Ciena and the guarantors. Upon the occurrence of certain events related to the improvement of Ciena’s credit rating and repayment of all secured term loans (“Investment Grade Events”), all collateral securing the obligations under the Revolving Credit Facility will be released at Ciena’s election.

Under the Revolving Credit Facility, Ciena is also required to maintain certain financial maintenance covenants, including:

•prior to an Investment Grade Event, a maximum Total Secured Net Leverage Ratio of no greater than 3.50 to 1.00 as of the end of any period of four fiscal quarters (provided, that in the event Ciena consummates a qualifying acquisition, Ciena can elect to increase the maximum Total Secured Net Leverage Ratio level to 4.00 to 1.00 for the fiscal quarter in which such qualifying acquisition is consummated and for the next five consecutive fiscal quarters);

•on or after an Investment Grade Event, a maximum Total Net Leverage Ratio of no greater than 4.00 to 1.00 as of the end of any period of four fiscal quarters; and

•a minimum Interest Coverage Ratio of no less than 3.00 to 1.00 as of the end of any period of four fiscal quarters.

Except as amended by the Amendment, the remaining terms of the Credit Agreement remain in full force and effect.

As of November 2, 2024, Ciena was in compliance with the above financial maintenance covenants. As of November 2, 2024, letters of credit totaling $59.1 million were issued under our Revolving Credit Facility. There were no borrowings outstanding under the Revolving Credit Facility as of November 2, 2024.

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
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-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

BUSINESS COMBINATIONS (Tables)

12 Months Ended

Nov. 02, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Acquired Assets and Assumed Liabilities

The following table summarizes the final purchase price allocation related to the acquisitions based on the estimated fair value of the acquired assets and assumed liabilities (in thousands):


	Amount
Cash and cash equivalents	$	14,634
Accounts receivable, net	443
Inventories, net	1,406
Prepaid expenses and other	810
Equipment, furniture and fixtures	1,090
Goodwill	116,644
Developed technology	75,400
In-process technology	89,100
Customer relationships and contracts	18,400
Order backlog	2,480
Deferred tax asset, net	(26,429)
Accounts payable	(420)
Accrued liabilities and other short-term obligations	(874)
Deferred revenue	(851)
Other long-term obligations	(144)
Total purchase consideration	$	291,689

The following table summarizes the final purchase price allocation related to the acquisitions based on the estimated fair value of the acquired assets and assumed liabilities (in thousands):


	Amount
Cash and cash equivalents	$	201
Prepaid expenses and other	1,614
Equipment, furniture and fixtures	694
Customer relationships and contracts	15,800
Developed technology	32,491
Goodwill	17,698
Accrued liabilities	(4,434)
Total purchase consideration	$	64,064

LEASES - Narrative (Details) ft² in Millions, $ in Millions	12 Months Ended
LEASES - Narrative (Details) ft² in Millions, $ in Millions	Nov. 02, 2024 USD ($) ft²
Leases [Abstract]
Area leased (in sq ft) \| ft²	1.1
Remaining lease term (up to)	8 years
Extension term (up to)	10 years
Termination period (up to)	4 years
ROU assets that involve subleased or vacant space	$ 4.9
Finance lease buildings, net that involve subleased or vacant space	$ 5.3

LEASES

12 Months Ended

Nov. 02, 2024

Leases [Abstract]

LEASES

Ciena leases approximately 1.1 million square feet of facilities globally. Ciena’s corporate headquarters are located in Hanover, Maryland. Ciena’s largest facilities are research and development centers located in Ottawa, Canada and Gurgaon, India. Ciena also leases smaller engineering facilities in the United States, Canada, and Europe. In addition, Ciena leases various smaller offices in regions throughout the world to support sales and services operations. Office facilities are leased under various non-cancelable operating or finance leases. Ciena's current leases have remaining terms that vary up to 8 years. Certain leases provide for options to extend up to 10 years and/or options to terminate within 4 years.

Leases included on the Consolidated Balance Sheets for the fiscal periods indicated were as follows (in thousands):


	Classification	Balance at November 2, 2024		Balance at October 28, 2023
Operating leases:
Operating ROU Assets	Operating right-of-use assets	$	27,417	$	35,140
Operating lease liabilities	Operating lease liabilities and Long-term operating lease liabilities	$	39,562	$	49,914
Finance leases:
Buildings, gross	Equipment, building, furniture and fixtures, net	$	67,517	$	67,904
Less: accumulated depreciation	Equipment, building, furniture and fixtures, net	(34,206)		(30,079)
Buildings, net		$	33,311	$	37,825
Finance lease liabilities	Accrued liabilities and other short-term obligations and other long-term obligations	$	47,917	$	52,145

ROU assets that involve subleased or vacant space aggregate $4.9 million as of November 2, 2024. Finance lease buildings, net, that involve subleased or vacant space aggregate $5.3 million as of November 2, 2024. These assets may become impaired if tenants are unable to service their obligations under the sublease, and/or if the estimates as to occupancy are not realized.

For the periods indicated, the components of lease expense included in the Consolidated Statements of Operations were as follows (in thousands):


		Year Ended		Year Ended		Year Ended
	Classification	November 2, 2024		October 28, 2023		October 29, 2022
Operating lease costs	Operating expense	$	13,595	$	16,080	$	17,966
Finance lease cost:
Amortization of finance ROU asset	Operating expense	4,406		4,448		4,592
Interest on finance lease liabilities	Interest expense	3,769		4,069		4,601
Total finance lease cost		8,175		8,517		9,193
Non-capitalized lease cost	Operating expense	954		910		917
Variable lease cost(1)	Operating expense	2,562		3,421		5,898

Net lease cost(2)		$	25,286	$	28,928	$	33,974

Future minimum lease payments and the present value of minimum lease payments related to operating and finance leases as of November 2, 2024 were as follows (in thousands):


Fiscal Year	Operating Leases		Finance Leases		Total
2025	$	15,601	$	7,749	$	23,350
2026	11,187		7,779		18,966
2027	6,587		8,049		14,636
2028	2,157		8,319		10,476
2029	2,578		8,319		10,897
Thereafter	5,393		22,937		28,330
Total lease payments	43,503		63,152		106,655
Less: Imputed interest	(3,941)		(15,235)		(19,176)
Present value of lease liabilities	39,562		47,917		87,479
Less: Current portion of present value of minimum lease payments	14,455		4,395		18,850
Long-term portion of present value of minimum lease payments	$	25,107	$	43,522	$	68,629

The weighted average remaining lease terms and weighted average discount rates for operating and finance leases were as follows (in thousands):


Weighted-average remaining lease term in years:	As of November 2, 2024		As of October 28, 2023
Operating leases	4.00		4.07
Finance leases	7.71		8.71
Weighted-average discount rates:
Operating leases	4.29	%	3.88	%
Finance leases	7.56	%	7.56	%

LEASES

Leases included on the Consolidated Balance Sheets for the fiscal periods indicated were as follows (in thousands):


	Classification	Balance at November 2, 2024		Balance at October 28, 2023
Operating leases:
Operating ROU Assets	Operating right-of-use assets	$	27,417	$	35,140
Operating lease liabilities	Operating lease liabilities and Long-term operating lease liabilities	$	39,562	$	49,914
Finance leases:
Buildings, gross	Equipment, building, furniture and fixtures, net	$	67,517	$	67,904
Less: accumulated depreciation	Equipment, building, furniture and fixtures, net	(34,206)		(30,079)
Buildings, net		$	33,311	$	37,825
Finance lease liabilities	Accrued liabilities and other short-term obligations and other long-term obligations	$	47,917	$	52,145

For the periods indicated, the components of lease expense included in the Consolidated Statements of Operations were as follows (in thousands):


		Year Ended		Year Ended		Year Ended
	Classification	November 2, 2024		October 28, 2023		October 29, 2022
Operating lease costs	Operating expense	$	13,595	$	16,080	$	17,966
Finance lease cost:
Amortization of finance ROU asset	Operating expense	4,406		4,448		4,592
Interest on finance lease liabilities	Interest expense	3,769		4,069		4,601
Total finance lease cost		8,175		8,517		9,193
Non-capitalized lease cost	Operating expense	954		910		917
Variable lease cost(1)	Operating expense	2,562		3,421		5,898

Net lease cost(2)		$	25,286	$	28,928	$	33,974

Future minimum lease payments and the present value of minimum lease payments related to operating and finance leases as of November 2, 2024 were as follows (in thousands):


Fiscal Year	Operating Leases		Finance Leases		Total
2025	$	15,601	$	7,749	$	23,350
2026	11,187		7,779		18,966
2027	6,587		8,049		14,636
2028	2,157		8,319		10,476
2029	2,578		8,319		10,897
Thereafter	5,393		22,937		28,330
Total lease payments	43,503		63,152		106,655
Less: Imputed interest	(3,941)		(15,235)		(19,176)
Present value of lease liabilities	39,562		47,917		87,479
Less: Current portion of present value of minimum lease payments	14,455		4,395		18,850
Long-term portion of present value of minimum lease payments	$	25,107	$	43,522	$	68,629

The weighted average remaining lease terms and weighted average discount rates for operating and finance leases were as follows (in thousands):


Weighted-average remaining lease term in years:	As of November 2, 2024		As of October 28, 2023
Operating leases	4.00		4.07
Finance leases	7.71		8.71
Weighted-average discount rates:
Operating leases	4.29	%	3.88	%
Finance leases	7.56	%	7.56	%

INCOME TAXES - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties
Unrecognized tax benefits, beginning balance	$ 93,920	$ 80,514	$ 77,091
Increase related to positions taken in prior period	11,482	9,940	4,732
Reductions related to settlements with taxing authorities	(4,345)	(625)	(3,229)
Increase related to positions taken in current period	4,340	4,960	2,959
Reductions related to expiration of statute of limitations	(116)	(869)	(1,039)
Unrecognized tax benefits, ending balance	$ 105,281	$ 93,920	$ 80,514

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

12 Months Ended

Nov. 02, 2024

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

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table summarizes the changes in accumulated balances of other comprehensive income (“AOCI”), net of tax (in thousands):


	Unrealized Gain (Loss) on
	Available-for-Sale Securities		Foreign Currency Forward Contracts		Interest Rate Swaps		Cumulative Translation Adjustment		Total
Balance at October 30, 2021	$	(164)	$	6,216	$	(12,179)	$	6,566	$	439
Other comprehensive gain (loss) before reclassifications	(2,801)		(16,299)		14,512		(49,446)		(54,034)
Amounts reclassified from AOCI	—		(114)		7,064		—		6,950
Balance at October 29, 2022	(2,965)		(10,197)		9,397		(42,880)		(46,645)
Other comprehensive gain (loss) before reclassifications	2,593		(8,455)		19,600		(5,321)		8,417
Amounts reclassified from AOCI	—		10,496		(10,035)		—		461
Balance at October 28, 2023	(372)		(8,156)		18,962		(48,201)		(37,767)
Other comprehensive gain (loss) before reclassifications	1,170		(1,424)		4,574		(3,096)		1,224
Amounts reclassified from AOCI	—		4,700		(14,868)		—		(10,168)
Balance at November 2, 2024	$	798	$	(4,880)	$	8,668	$	(51,297)	$	(46,711)

INCOME TAXES (Tables)

12 Months Ended

Nov. 02, 2024

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

For the periods indicated, the provision for income taxes consists of the following (in thousands):


	Year Ended
	November 2, 2024		October 28, 2023		October 29, 2022
Provision for income taxes:
Current:
Federal	$	70,208	$	36,537	$	27,479
State	14,106		18,860		10,289
Foreign	28,390		28,281		19,337
Total current	112,704		83,678		57,105
Deferred:
Federal	(52,300)		(8,010)		(30,032)
State	(4,868)		(17,354)		520
Foreign	(19,642)		10,512		2,010
Total deferred	(76,810)		(14,852)		(27,502)
Provision for income taxes	$	35,894	$	68,826	$	29,603

Schedule of Income before Provision for Income Taxes

For the periods indicated, income before provision for income taxes consists of the following (in thousands):


	Year Ended
	November 2, 2024		October 28, 2023		October 29, 2022
United States	$	244	$	93,682	$	28,784
Foreign	119,606		229,971		153,721
Total	$	119,850	$	323,653	$	182,505

Schedule of Tax Provision (Benefit) Reconciles to the Amount Computed by Multiplying Income or Loss Before Income Taxes by the U.S. Federal Statutory Rate of 21%


	Year Ended
	November 2, 2024		October 28, 2023		October 29, 2022
Provision at statutory rate	21.00	%	21.00	%	21.00	%
State taxes	5.60	%	1.65	%	2.31	%
Withholding and other foreign taxes	3.53	%	(0.09)	%	(1.37)	%
Research and development credit	(40.23)	%	(16.78)	%	(23.66)	%
Non-deductible compensation	13.92	%	5.29	%	5.26	%
U.S. Taxation on foreign activity	9.59	%	5.08	%	1.73	%
Foreign Nontaxable interest	(2.96)	%	(1.06)	%	(1.90)	%
Taxation on foreign inflation	3.03	%	1.34	%	1.41	%
Rate change	4.46	%	(3.71)	%	1.27	%
Valuation allowance	2.15	%	9.44	%	8.35	%
Loss on equity transactions	—	%	(1.72)	%	—	%
Uncertain tax positions	8.09	%	1.72	%	1.62	%
Other	1.77	%	(0.89)	%	0.20	%
Effective income tax rate	29.95	%	21.27	%	16.22	%

Schedule of Significant Components of Deferred Tax Assets and Liabilities

The significant components of deferred tax assets are as follows (in thousands):


	Year Ended
	November 2, 2024		October 28, 2023
Deferred tax assets:
Reserves and accrued liabilities	$	79,272	$	82,160
Depreciation and amortization	760,685		712,098
NOL and credit carry forward	211,792		197,984
Other	26,574		6,934
Gross deferred tax assets	1,078,323		999,176
Valuation allowance	(192,447)		(189,870)
Deferred tax asset, net of valuation allowance	$	885,876	$	809,306

Schedule of Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits, excluding Interest and Penalties

A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties, is as follows (in thousands):


	Amount
Unrecognized tax benefits at October 30, 2021	$	77,091
Increase related to positions taken in prior period	4,732
Reductions related to settlements with taxing authorities	(3,229)
Increase related to positions taken in current period	2,959
Reductions related to expiration of statute of limitations	(1,039)
Unrecognized tax benefits at October 29, 2022	80,514
Increase related to positions taken in prior period	9,940
Reductions related to settlements with taxing authorities	(625)
Increase related to positions taken in current period	4,960
Reductions related to expiration of statute of limitations	(869)
Unrecognized tax benefits at October 28, 2023	93,920
Increase related to positions taken in prior period	11,482
Reductions related to settlements with taxing authorities	(4,345)
Increase related to positions taken in current period	4,340
Reductions related to expiration of statute of limitations	(116)
Unrecognized tax benefits at November 2, 2024	$	105,281

Schedule of Valuation Allowance Against the Gross Deferred Tax Assets

The following table summarizes the activity in Ciena’s valuation allowance against its gross deferred tax assets (in thousands):


Year Ended	Beginning Balance		Additions		Deductions		Ending Balance
October 29, 2022	$	159,634	$	15,245	$	12,803	$	162,076
October 28, 2023	$	162,076	$	28,746	$	952	$	189,870
November 2, 2024	$	189,870	$	16,816	$	14,239	$	192,447

EQUIPMENT, BUILDING, FURNITURE AND FIXTURES

12 Months Ended

Nov. 02, 2024

Property, Plant and Equipment [Abstract]

EQUIPMENT, BUILDING, FURNITURE AND FIXTURES

As of the dates indicated, equipment, building, furniture and fixtures are comprised of the following (in thousands):


	November 2, 2024		October 28, 2023
Equipment, furniture and fixtures	$	788,781	$	676,485
Building subject to finance lease	67,517		67,904
Leasehold improvements	77,451		74,391
Equipment, building, furniture and fixtures	933,749		818,780
Accumulated depreciation and amortization	(596,027)		(538,633)
Equipment, building, furniture and fixtures, net	$	337,722	$	280,147

During fiscal 2024, fiscal 2023 and fiscal 2022, Ciena recorded depreciation of equipment, building, furniture and fixtures, and amortization of leasehold improvements of $84.5 million, $84.6 million and $87.2 million, respectively.

BUSINESS COMBINATIONS - Narrative (Details) - USD ($) $ in Thousands				3 Months Ended	12 Months Ended
	Dec. 30, 2022	Mar. 09, 2022	Nov. 01, 2021	Jan. 28, 2023	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Business Acquisition [Line Items]
Gain on cost method equity investment					$ 0	$ 26,368	$ 4,120
Acquisition and integration costs					0	$ 3,474	$ 598
Benu and Tibit
Business Acquisition [Line Items]
Consideration transferred	$ 291,700
Payment to acquire business	244,700
Fair value of previously held cost method equity investment	47,000
Gain on cost method equity investment	26,500			$ 26,500
Acquisition and integration costs	$ 3,400
Benu and Tibit \| Developed technology
Business Acquisition [Line Items]
Intangible assets, useful life	5 years
Benu and Tibit \| Customer relationships and contracts
Business Acquisition [Line Items]
Intangible assets, useful life	3 years
Vyatta And Xelic
Business Acquisition [Line Items]
Consideration transferred		$ 64,100
Payment to acquire business		63,300
Acquisition and integration costs					$ 1,700
Future payable arrangement		$ 800
Vyatta And Xelic \| Developed technology
Business Acquisition [Line Items]
Intangible assets, useful life			5 years
Vyatta And Xelic \| Customer relationships and contracts
Business Acquisition [Line Items]
Intangible assets, useful life			2 years

ACCOUNTS RECEIVABLE (Tables)

12 Months Ended

Nov. 02, 2024

Receivables [Abstract]

Schedule of Activity in Allowance for Doubtful Accounts

The following table summarizes the activity in Ciena’s allowance for credit losses for the fiscal years indicated (in thousands):


Year Ended	Beginning Balance		Provisions		Net Deductions		Ending Balance
October 29, 2022(1)	$	10,912	$	4,199	$	4,153	$	10,958
October 28, 2023	$	10,958	$	5,718	$	5,022	$	11,654
November 2, 2024	$	11,654	$	7,996	$	9,770	$	9,880

(1) On March 7, 2022, Ciena announced its decision to suspend its business operations in Russia. As a result, Ciena’s allowance for doubtful accounts includes a provision for a significant asset impairment of $1.8 million for a trade receivable related to this decision.

SEGMENT AND ENTITY WIDE DISCLOSURES (Tables)

12 Months Ended

Nov. 02, 2024

Segment Reporting [Abstract]

Schedule of Reconciliation of Assets from Segment to Consolidated

As of November 2, 2024, finite-lived intangible assets, goodwill, and maintenance spares are assigned to asset groups within the following segments (in thousands):


	November 2, 2024
	Networking Platforms		Platform Software and Services		Blue Planet Automation Software and Services		Global Services		Total
Other intangible assets, net	$	158,903	$	—	$	6,117	$	—	$	165,020
Goodwill	$	199,467	$	156,191	$	89,049	$	—	$	444,707
Maintenance spares, net	$	—	$	—	$	—	$	77,918	$	77,918

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 consolidated net income for the respective periods indicated (in thousands):


	Year Ended
	November 2, 2024		October 28, 2023		October 29, 2022
Segment profit (loss):
Networking Platforms	$	536,510	$	778,641	$	572,305
Platform Software and Services	231,900		186,945		175,108
Blue Planet Automation Software and Services	(11,892)		(33,669)		(22,388)
Global Services	195,575		196,375		210,663
Total segment profit	952,093		1,128,292		935,688
Less: non-performance operating expenses
Selling and marketing	510,668		490,804		466,565
General and administrative	220,647		215,284		179,382
Significant asset impairments and restructuring costs	24,592		23,834		33,824
Amortization of intangible assets	29,569		37,351		32,511
Acquisition and integration costs	—		3,474		598


Add: other non-performance financial items
Interest and other income, net	50,261		62,008		6,747
Interest expense	(97,028)		(88,026)		(47,050)
Loss on extinguishment and modification of debt	—		(7,874)		—
Less: Provision for income taxes	35,894		68,826		29,603
Consolidated net income	$	83,956	$	254,827	$	152,902

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

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


	November 2, 2024		October 28, 2023
Canada	$	283,760	$	229,707
United States	49,195		46,933
Other International	32,184		38,647
Total	$	365,139	$	315,287

SHARE-BASED COMPENSATION EXPENSE - Components of Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Share-based compensation expense
Share-based compensation expense capitalized in inventory, net	$ 51	$ 413	$ 137
Total share-based compensation	156,404	130,455	105,131
Cost of Goods Sold
Share-based compensation expense
Share-based compensation expense included in operating expense	19,217	14,988	11,400
Products
Share-based compensation expense
Share-based compensation expense included in operating expense	6,474	4,518	3,867
Services
Share-based compensation expense
Share-based compensation expense included in operating expense	12,743	10,470	7,533
Operating Expense
Share-based compensation expense
Share-based compensation expense included in operating expense	137,136	115,054	93,594
Research and development
Share-based compensation expense
Share-based compensation expense included in operating expense	54,129	42,331	31,879
Sales and marketing
Share-based compensation expense
Share-based compensation expense included in operating expense	42,954	35,136	31,280
General and administrative
Share-based compensation expense
Share-based compensation expense included in operating expense	$ 40,053	$ 37,587	$ 30,435

SEGMENT AND ENTITY WIDE DISCLOSURES - Narrative (Details) $ in Thousands	12 Months Ended
	Nov. 02, 2024 USD ($) segment	Oct. 28, 2023 USD ($)
Segment Reporting [Abstract]
Equipment, building, furniture and fixtures, net	$ 337,722	$ 280,147
Operating right-of-use assets	$ 27,417	$ 35,140
Number of operating segments \| segment	4

SHARE-BASED COMPENSATION EXPENSE - Narrative (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Nov. 02, 2024 USD ($) period $ / shares shares	Oct. 28, 2023 USD ($) $ / shares shares	Oct. 29, 2022 USD ($) $ / shares shares	Mar. 21, 2024 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted during the period (in shares)	0	0	0
Number of stock options outstanding	0
Unrecognized share-based compensation \| $	$ 212.9
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of option exercised \| $	$ 0.1	$ 0.3	$ 1.6
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period		10 years
Age reached		60 years
Retirement notice period		12 months
Awards outstanding (in shares)	6,112,000	4,922,000
Total fair value of restricted stock units vested and converted into common stock \| $	$ 116.9	$ 98.2	$ 119.0
Weighted average fair value of each restricted stock unit granted (in dollars per share) \| $ / shares	$ 44.57	$ 50.48	$ 67.03
Nonvested award compensation cost not yet recognized, period for recognition	1 year 3 months 29 days
Restricted Stock Units (RSUs) \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of service-based awards	3 years
Restricted Stock Units (RSUs) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of service-based awards	4 years
Performance Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards outstanding (in shares)	300,000	300,000
2017 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	31,200,000			10,100,000
Maximum expiration period of incentive awards	10 years
Remaining authorized shares available for issuance (in shares)	10,900,000
2017 Omnibus Incentive Plan \| Employee Stock Options and Stock Appreciation Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum expiration period of incentive awards	10 years
Minimum exercise price, percentage of fair market value on grant date	100.00%
2017 Omnibus Incentive Plan \| Restricted Stock Units (RSUs) \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of service-based awards	1 year
Employee Stock Purchase Plan \| Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining authorized shares available for issuance (in shares)	10,400,000
Offer period for ESPP	12 months
Number of purchase periods in offer period \| period	2
Purchase period	6 months
ESPP discount percentage purchase date	85.00%
Shares issued under ESPP (in shares)	900,000	800,000	700,000

SHORT-TERM AND LONG-TERM DEBT

12 Months Ended

Nov. 02, 2024

Debt Disclosure [Abstract]

SHORT-TERM AND LONG-TERM DEBT

Outstanding Term Loan Payable

2030 New Term Loan

The Amendment amends the Credit Agreement and provides that the 2030 New Term Loan will, among other things:

•mature on October 24, 2030;

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


	November 2, 2024								October 28, 2023
	Principal Balance		Unamortized Discount		Deferred Debt Issuance Costs		Net Carrying Value		Net Carrying Value
2030 New Term Loan	$	1,158,300	$	(4,359)	$	(5,594)	$	1,148,347	$	1,159,371

Refinanced Term Loans

The proceeds of the 2030 New Term Loan, net of original issuance discount, were used to repay in full $1.2 billion of outstanding principal of the Refinanced Term Loans, including accrued interest.

2025 Term Loan

2030 Term Loan

The Incremental Agreement amended the Credit Agreement and provided that the 2030 Term Loan would, among other things:

•mature on January 19, 2030;

Except as amended by the Incremental Agreement, the remaining terms of the Credit Agreement remained in full force and effect.

2030 Notes

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


	November 2, 2024						October 28, 2023
	Principal Balance		Deferred Debt Issuance Costs		Net Carrying Value		Net Carrying Value
2030 Senior Notes 4.00% fixed-rate	$	400,000	$	(3,573)	$	396,427	$	395,735

REVOLVING CREDIT FACILITY

The Credit Agreement provides that the Revolving Credit Facility will, among other things:

•mature on October 24, 2028;

Under the Revolving Credit Facility, Ciena is also required to maintain certain financial maintenance covenants, including:

•on or after an Investment Grade Event, a maximum Total Net Leverage Ratio of no greater than 4.00 to 1.00 as of the end of any period of four fiscal quarters; and

•a minimum Interest Coverage Ratio of no less than 3.00 to 1.00 as of the end of any period of four fiscal quarters.

Except as amended by the Amendment, the remaining terms of the Credit Agreement remain in full force and effect.

- Definition

+ References

+ Details

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 4,014,955	$ 4,386,549	$ 3,632,661
Products and services at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	3,205,049	3,637,383	2,933,692
Products and services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	809,906	749,166	698,969
Optical Networking
Disaggregation of Revenue [Line Items]
Total revenue	2,642,563	2,987,245	2,379,931
Routing and Switching
Disaggregation of Revenue [Line Items]
Total revenue	399,492	506,247	398,439
Platform Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	358,062	303,873	277,191
Blue Planet Automation Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	77,619	69,170	76,567
Maintenance Support and Training
Disaggregation of Revenue [Line Items]
Total revenue	303,086	288,334	292,375
Installation and Deployment
Disaggregation of Revenue [Line Items]
Total revenue	184,358	180,951	157,443
Consulting and Network Design
Disaggregation of Revenue [Line Items]
Total revenue	49,775	50,729	50,715
Networking Platforms
Disaggregation of Revenue [Line Items]
Total revenue	3,042,055	3,493,492	2,778,370
Networking Platforms \| Products and services at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	3,042,055	3,493,492	2,778,370
Networking Platforms \| Products and services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Networking Platforms \| Optical Networking
Disaggregation of Revenue [Line Items]
Total revenue	2,642,563	2,987,245	2,379,931
Networking Platforms \| Routing and Switching
Disaggregation of Revenue [Line Items]
Total revenue	399,492	506,247	398,439
Networking Platforms \| Platform Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Networking Platforms \| Blue Planet Automation Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Networking Platforms \| Maintenance Support and Training
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Networking Platforms \| Installation and Deployment
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Networking Platforms \| Consulting and Network Design
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Platform Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	358,062	303,873	277,191
Platform Software and Services \| Products and services at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	99,317	67,013	85,691
Platform Software and Services \| Products and services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	258,745	236,860	191,500
Platform Software and Services \| Optical Networking
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Platform Software and Services \| Routing and Switching
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Platform Software and Services \| Platform Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	358,062	303,873	277,191
Platform Software and Services \| Blue Planet Automation Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Platform Software and Services \| Maintenance Support and Training
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Platform Software and Services \| Installation and Deployment
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Platform Software and Services \| Consulting and Network Design
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Blue Planet Automation Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	77,619	69,170	76,567
Blue Planet Automation Software and Services \| Products and services at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	19,267	21,842	25,540
Blue Planet Automation Software and Services \| Products and services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	58,352	47,328	51,027
Blue Planet Automation Software and Services \| Optical Networking
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Blue Planet Automation Software and Services \| Routing and Switching
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Blue Planet Automation Software and Services \| Platform Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Blue Planet Automation Software and Services \| Blue Planet Automation Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	77,619	69,170	76,567
Blue Planet Automation Software and Services \| Maintenance Support and Training
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Blue Planet Automation Software and Services \| Installation and Deployment
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Blue Planet Automation Software and Services \| Consulting and Network Design
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Global Services
Disaggregation of Revenue [Line Items]
Total revenue	537,219	520,014	500,533
Global Services \| Products and services at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	44,410	55,036	44,091
Global Services \| Products and services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	492,809	464,978	456,442
Global Services \| Optical Networking
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Global Services \| Routing and Switching
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Global Services \| Platform Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Global Services \| Blue Planet Automation Software and Services
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Global Services \| Maintenance Support and Training
Disaggregation of Revenue [Line Items]
Total revenue	303,086	288,334	292,375
Global Services \| Installation and Deployment
Disaggregation of Revenue [Line Items]
Total revenue	184,358	180,951	157,443
Global Services \| Consulting and Network Design
Disaggregation of Revenue [Line Items]
Total revenue	$ 49,775	$ 50,729	$ 50,715

REVENUE - Geographical Distribution of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 4,014,955	$ 4,386,549	$ 3,632,661
Americas
Disaggregation of Revenue [Line Items]
Total revenue	2,951,915	3,110,347	2,636,840
EMEA
Disaggregation of Revenue [Line Items]
Total revenue	648,870	643,142	555,215
APAC
Disaggregation of Revenue [Line Items]
Total revenue	$ 414,170	$ 633,060	$ 440,606

- 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

+ References

+ Details

INVENTORIES (Tables)

12 Months Ended

Nov. 02, 2024

Inventory Disclosure [Abstract]

Schedule of Inventories

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


	November 2, 2024		October 28, 2023
Raw materials	$	542,785	$	664,797
Work-in-process	32,219		55,242
Finished goods	324,697		314,168
Deferred cost of goods sold	27,902		66,634
Gross inventories	927,603		1,100,841
Reserve for excess and obsolescence	(107,173)		(50,003)
Inventories, net	$	820,430	$	1,050,838

Schedule of Activity in Reserve for Excess and Obsolete Inventory

The following table summarizes the activity in Ciena’s reserve for excess and obsolete inventory for the fiscal years indicated (in thousands):


Year Ended	Beginning Balance		Provisions		Disposals		Ending Balance
October 29, 2022	$	36,959	$	16,184	$	17,057	$	36,086
October 28, 2023	$	36,086	$	29,464	$	15,547	$	50,003
November 2, 2024	$	50,003	$	77,341	$	20,171	$	107,173

OTHER EMPLOYEE BENEFIT PLANS (Details)	12 Months Ended
OTHER EMPLOYEE BENEFIT PLANS (Details)	Nov. 02, 2024 USD ($)	Nov. 02, 2024 CAD ($)	Oct. 28, 2023 USD ($)	Oct. 28, 2023 CAD ($)	Oct. 29, 2022 USD ($)	Oct. 29, 2022 CAD ($)
Defined Contribution Pension Plan Canada
Defined Contribution Plan Disclosure [Line Items]
Maximum total employee and employer contribution percentage	18.00%	18.00%
Maximum total employee and employer contribution amount	$ 23,284	$ 32,490
Required employer contribution percent	1.00%	1.00%
Employer matching percentage for eligible employee contribution	50.00%	50.00%
Percentage of employee contribution with employer matching contribution	6.00%	6.00%
Employer matching contributions	$ 8,300,000	$ 11,600,000	$ 7,600,000	$ 10,600,000	$ 7,200,000	$ 10,100,000
Defined Contribution Profit Sharing Plan
Defined Contribution Plan Disclosure [Line Items]
Employer matching percentage for eligible employee contribution	50.00%	50.00%
Percentage of employee contribution with employer matching contribution	8.00%	8.00%
Employer matching contributions	$ 11,000,000.0		$ 10,400,000		$ 9,200,000
Maximum employee contribution percentage of pre-tax compensation	60.00%	60.00%
Employer discretionary contribution amount	$ 0

OTHER BALANCE SHEET DETAILS - Accrued Warranty (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning Balance	$ 57,089	$ 45,503	$ 48,019
Current Year Provisions	25,643	31,742	17,440
Settlements	(27,465)	(20,156)	(19,956)
Ending Balance	$ 55,267	$ 57,089	$ 45,503

SEGMENT AND ENTITY WIDE DISCLOSURES

12 Months Ended

Nov. 02, 2024

Segment Reporting [Abstract]

SEGMENT 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, operating 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 November 2, 2024, equipment, building, furniture and fixtures, net, totaled $337.7 million, and operating ROU assets totaled $27.4 million both of which support asset groups within Ciena’s four operating segments and unallocated selling and general and administrative activities. As of November 2, 2024, finite-lived intangible assets, goodwill, and maintenance spares are assigned to asset groups within the following segments (in thousands):


	November 2, 2024
	Networking Platforms		Platform Software and Services		Blue Planet Automation Software and Services		Global Services		Total
Other intangible assets, net	$	158,903	$	—	$	6,117	$	—	$	165,020
Goodwill	$	199,467	$	156,191	$	89,049	$	—	$	444,707
Maintenance spares, net	$	—	$	—	$	—	$	77,918	$	77,918

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; loss on extinguishment and modification of debt; and provision for income taxes.

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


	Year Ended
	November 2, 2024		October 28, 2023		October 29, 2022
Segment profit (loss):
Networking Platforms	$	536,510	$	778,641	$	572,305
Platform Software and Services	231,900		186,945		175,108
Blue Planet Automation Software and Services	(11,892)		(33,669)		(22,388)
Global Services	195,575		196,375		210,663
Total segment profit	952,093		1,128,292		935,688
Less: non-performance operating expenses
Selling and marketing	510,668		490,804		466,565
General and administrative	220,647		215,284		179,382
Significant asset impairments and restructuring costs	24,592		23,834		33,824
Amortization of intangible assets	29,569		37,351		32,511
Acquisition and integration costs	—		3,474		598


Add: other non-performance financial items
Interest and other income, net	50,261		62,008		6,747
Interest expense	(97,028)		(88,026)		(47,050)
Loss on extinguishment and modification of debt	—		(7,874)		—
Less: Provision for income taxes	35,894		68,826		29,603
Consolidated net income	$	83,956	$	254,827	$	152,902

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


	November 2, 2024		October 28, 2023
Canada	$	283,760	$	229,707
United States	49,195		46,933
Other International	32,184		38,647
Total	$	365,139	$	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.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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+ Details

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Revenue:
Total revenue	$ 4,014,955	$ 4,386,549	$ 3,632,661
Cost of goods sold:
Total cost of goods sold	2,295,365	2,507,698	2,072,317
Gross profit	1,719,590	1,878,851	1,560,344
Operating expenses:
Research and development	767,497	750,559	624,656
Selling and marketing	510,668	490,804	466,565
General and administrative	220,647	215,284	179,382
Significant asset impairments and restructuring costs	24,592	23,834	33,824
Amortization of intangible assets	29,569	37,351	32,511
Acquisition and integration costs	0	3,474	598
Total operating expenses	1,552,973	1,521,306	1,337,536
Income from operations	166,617	357,545	222,808
Interest and other income, net	50,261	62,008	6,747
Interest expense	(97,028)	(88,026)	(47,050)
Loss on extinguishment and modification of debt	0	(7,874)	0
Income before income taxes	119,850	323,653	182,505
Provision for income taxes	35,894	68,826	29,603
Net income	$ 83,956	$ 254,827	$ 152,902
Basic net income per common share (in dollars per share)	$ 0.58	$ 1.71	$ 1.01
Diluted net income per potential common share (in dollars per share)	$ 0.58	$ 1.71	$ 1.00
Weighted average basic common shares outstanding (in shares)	144,715	148,971	151,208
Weighted average diluted potential common shares outstanding (in shares)	145,964	149,380	152,193
Products
Revenue:
Total revenue	$ 3,159,021	$ 3,581,039	$ 2,888,848
Cost of goods sold:
Total cost of goods sold	1,861,317	2,088,440	1,699,631
Services
Revenue:
Total revenue	855,934	805,510	743,813
Cost of goods sold:
Total cost of goods sold	$ 434,048	$ 419,258	$ 372,686

INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Intangible Assets
Gross Intangible	$ 1,012,447	$ 1,012,496
Accumulated Amortization	(847,427)	(806,869)
Net Intangible	165,020	205,627
Amortization of intangible assets	40,624	49,616	$ 44,281
Expected future amortization of finite-lived intangible assets
Net Intangible	165,020	205,627
Developed technology
Intangible Assets
Gross Intangible	503,618	503,618
Accumulated Amortization	(442,345)	(414,941)
Net Intangible	61,273	88,677
Expected future amortization of finite-lived intangible assets
Net Intangible	61,273	88,677
In-process research and development
Intangible Assets
Gross Intangible	89,100	89,100
Accumulated Amortization	0	0
Net Intangible	89,100	89,100
Expected future amortization of finite-lived intangible assets
Net Intangible	89,100	89,100
Patents and licenses
Intangible Assets
Gross Intangible	8,795	8,795
Accumulated Amortization	(6,150)	(5,203)
Net Intangible	2,645	3,592
Expected future amortization of finite-lived intangible assets
Net Intangible	2,645	3,592
Customer relationships, covenants not to compete, outstanding purchase orders and contracts
Intangible Assets
Gross Intangible	410,934	410,983
Accumulated Amortization	(398,932)	(386,725)
Net Intangible	12,002	24,258
Expected future amortization of finite-lived intangible assets
Net Intangible	12,002	$ 24,258
Intangible Assets, Excluding In-Process Research And Development
Intangible Assets
Net Intangible	75,920
Expected future amortization of finite-lived intangible assets
2025	34,576
2026	23,348
2027	15,843
2028	1,991
2029	126
Thereafter	36
Net Intangible	$ 75,920

SIGNIFICANT ASSET IMPAIRMENT AND RESTRUCTURING COSTS (Tables)

12 Months Ended

Nov. 02, 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 Ciena’s Consolidated Balance Sheets, for the fiscal years indicated (in thousands):


	Workforce reduction			Other restructuring activities			Total
Balance at October 30, 2021	$	781		$	—		$	781
Charges	3,156		(1)	26,814		(2)	29,970

Cash payments	(2,722)			(22,194)			(24,916)
Balance at October 29, 2022	1,215			4,620			5,835
Charges	6,885		(1)	16,949		(2)	23,834


Cash payments	(6,187)			(21,569)			(27,756)
Balance at October 28, 2023	1,913			—			1,913
Charges	15,408		(1)	9,184		(2)	24,592


Cash payments	(15,394)			(9,184)			(24,578)
Balance at November 2, 2024	$	1,927		$	—		$	1,927
Current restructuring liabilities	$	1,927		$	—		$	1,927

_________________________________

INCOME TAXES - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022	Oct. 30, 2021
Deferred tax assets:
Reserves and accrued liabilities	$ 79,272	$ 82,160
Depreciation and amortization	760,685	712,098
NOL and credit carry forward	211,792	197,984
Other	26,574	6,934
Gross deferred tax assets	1,078,323	999,176
Valuation allowance	(192,447)	(189,870)	$ (162,076)	$ (159,634)
Deferred tax asset, net of valuation allowance	$ 885,876	$ 809,306

CIENA CORPORATION AND SIGNIFICANT ACCOUNTING POLICIES AND ESTIMATES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023
Significant Accounting Policies [Line Items]
Equity investments	$ 21,730	$ 48
Expected economic lives of finite-lived intangible assets (in years)	7 years
Expected number of years Spares usage cost is expensed	4 years
One-time employee termination benefits related to service period (in days)	60 days
Minimum
Significant Accounting Policies [Line Items]
Payment terms and cash received	30 days
Maximum
Significant Accounting Policies [Line Items]
Payment terms and cash received	90 days
Foreign exchange contract maturities	24 months
Equipment, furniture and fixtures \| Minimum
Significant Accounting Policies [Line Items]
Estimated useful lives capitalized and amortized straight-line (in years)	3 years
Equipment, furniture and fixtures \| Maximum
Significant Accounting Policies [Line Items]
Estimated useful lives capitalized and amortized straight-line (in years)	5 years
Software and website development \| Minimum
Significant Accounting Policies [Line Items]
Estimated useful lives capitalized and amortized straight-line (in years)	2 years
Software and website development \| Maximum
Significant Accounting Policies [Line Items]
Estimated useful lives capitalized and amortized straight-line (in years)	5 years

REVENUE (Tables)

12 Months Ended

Nov. 02, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

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


	Year Ended November 2, 2024
	Networking Platforms		Platform Software and Services		Blue Planet Automation Software and Services		Global Services		Total
Product lines:
Optical Networking	$	2,642,563	$	—	$	—	$	—	$	2,642,563
Routing and Switching	399,492		—		—		—		399,492
Platform Software and Services	—		358,062		—		—		358,062
Blue Planet Automation Software and Services	—		—		77,619		—		77,619
Maintenance Support and Training	—		—		—		303,086		303,086
Installation and Deployment	—		—		—		184,358		184,358
Consulting and Network Design	—		—		—		49,775		49,775
Total revenue by product line	$	3,042,055	$	358,062	$	77,619	$	537,219	$	4,014,955

Timing of revenue recognition:
Products and services at a point in time	$	3,042,055	$	99,317	$	19,267	$	44,410	$	3,205,049
Products and services transferred over time	—		258,745		58,352		492,809		809,906
Total revenue by timing of revenue recognition	$	3,042,055	$	358,062	$	77,619	$	537,219	$	4,014,955


	Year Ended October 28, 2023
	Networking Platforms		Platform Software and Services		Blue Planet Automation Software and Services		Global Services		Total
Product lines:
Optical Networking	$	2,987,245	$	—	$	—	$	—	$	2,987,245
Routing and Switching	506,247		—		—		—		506,247
Platform Software and Services	—		303,873		—		—		303,873
Blue Planet Automation Software and Services	—		—		69,170		—		69,170
Maintenance Support and Training	—		—		—		288,334		288,334
Installation and Deployment	—		—		—		180,951		180,951
Consulting and Network Design	—		—		—		50,729		50,729
Total revenue by product line	$	3,493,492	$	303,873	$	69,170	$	520,014	$	4,386,549

Timing of revenue recognition:
Products and services at a point in time	$	3,493,492	$	67,013	$	21,842	$	55,036	$	3,637,383
Products and services transferred over time	—		236,860		47,328		464,978		749,166
Total revenue by timing of revenue recognition	$	3,493,492	$	303,873	$	69,170	$	520,014	$	4,386,549


	Year Ended October 29, 2022
	Networking Platforms		Platform Software and Services		Blue Planet Automation Software and Services		Global Services		Total
Product lines:
Optical Networking	$	2,379,931	$	—	$	—	$	—	$	2,379,931
Routing and Switching	398,439		—		—		—		398,439
Platform Software and Services	—		277,191		—		—		277,191
Blue Planet Automation Software and Services	—		—		76,567		—		76,567
Maintenance Support and Training	—		—		—		292,375		292,375
Installation and Deployment	—		—		—		157,443		157,443
Consulting and Network Design	—		—		—		50,715		50,715
Total revenue by product line	$	2,778,370	$	277,191	$	76,567	$	500,533	$	3,632,661

Timing of revenue recognition:
Products and services at a point in time	$	2,778,370	$	85,691	$	25,540	$	44,091	$	2,933,692
Products and services transferred over time	—		191,500		51,027		456,442		698,969
Total revenue by timing of revenue recognition	$	2,778,370	$	277,191	$	76,567	$	500,533	$	3,632,661

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


	Year Ended
	November 2, 2024		October 28, 2023		October 29, 2022
Geographic distribution:
Americas	$	2,951,915	$	3,110,347	$	2,636,840
EMEA	648,870		643,142		555,215
APAC	414,170		633,060		440,606
Total revenue by geographic distribution	$	4,014,955	$	4,386,549	$	3,632,661

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


	November 2, 2024		October 28, 2023		October 29, 2022
Cloud Provider	$	532,332	$	561,397	n/a
AT&T	475,261		464,662		$	433,418
Verizon	n/a		n/a		402,787
Total	$	1,007,593	$	1,026,059	$	836,205

________________________________


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 (in thousands):


	Balance at November 2, 2024		Balance at October 28, 2023
Accounts receivable, net	$	908,597	$	1,003,876
Contract assets for unbilled accounts receivable, net	$	127,919	$	150,312
Deferred revenue	$	237,619	$	228,460

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


	November 2, 2024		October 28, 2023
Products	$	19,017	$	28,353
Services	218,602		200,107
Total deferred revenue	237,619		228,460
Less current portion	(156,379)		(154,419)
Long-term deferred revenue	$	81,240	$	74,041

LEASES - Leases Included in the Balance Sheet (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Operating leases:
Operating ROU Assets	$ 27,417	$ 35,140
Operating lease liabilities	39,562	49,914
Finance leases:
Buildings, gross	$ 67,517	$ 67,904
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Equipment, building, furniture and fixtures, net	Equipment, building, furniture and fixtures, net
Less: accumulated depreciation	$ (34,206)	$ (30,079)
Buildings, net	33,311	37,825
Finance lease liabilities	47,917
Accrued liabilities and other short-term obligations
Finance leases:
Finance lease liabilities	47,917	52,145
Other long-term obligations
Finance leases:
Finance lease liabilities	$ 47,917	$ 52,145

DERIVATIVE INSTRUMENTS (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
DERIVATIVE INSTRUMENTS (Details) - USD ($) $ in Millions	Apr. 27, 2024	Nov. 02, 2024	Dec. 31, 2023	Oct. 28, 2023	Jan. 31, 2023	Apr. 30, 2022
Foreign Currency Forward Contracts \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative asset, notional amount		$ 201.2		$ 226.3
Foreign exchange contract maturities		12 months
Foreign Currency Forward Contracts \| Cash Flow Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative asset, notional amount		$ 257.0		367.3
Foreign exchange contract maturities		24 months
Foreign Currency Forward Contracts \| Net Investment Hedges \| Designated as Hedging Instrument \| INDIA
Derivative [Line Items]
Derivative asset, notional amount		$ 65.4		48.0
Foreign exchange contract maturities		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%

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Nov. 02, 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 November 2, 2024, Ciena had $1.7 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.

SEGMENT AND ENTITY WIDE DISCLOSURES - Geographic Distribution of Equipment, Building, Furniture and Fixtures (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Ciena's geographic distribution of equipment, furniture and fixtures
Equipment, building, furniture and fixtures, net	$ 365,139	$ 315,287
Canada
Ciena's geographic distribution of equipment, furniture and fixtures
Equipment, building, furniture and fixtures, net	283,760	229,707
United States
Ciena's geographic distribution of equipment, furniture and fixtures
Equipment, building, furniture and fixtures, net	49,195	46,933
Other International
Ciena's geographic distribution of equipment, furniture and fixtures
Equipment, building, furniture and fixtures, net	$ 32,184	$ 38,647

SHARE-BASED COMPENSATION EXPENSE - Assumptions for Awards Granted (Details) - Performance Based Awards	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility of Ciena common stock, which is a weighted average of implied volatility and historical volatility	36.00%	40.37%	38.27%
Historical volatility of Ciena common stock	36.74%	43.11%	42.17%
Volatility of S&P Networking Index	44.94%	30.93%	27.22%
Correlation coefficient	0.3665	0.7781	0.7049
Expected life in years	2 years 10 months 20 days	2 years 10 months 20 days	2 years 10 months 20 days
Risk-free interest rate	4.41%	3.95%	0.94%
Expected dividend yield	0.00%	0.00%	0.00%

- 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/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
-Paragraph 2
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

SEGMENT AND ENTITY WIDE DISCLOSURES - Revenue, Profit (Loss) and Net Income Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Oct. 29, 2022
Add: other non-performance financial items
Selling and marketing	$ 510,668	$ 490,804	$ 466,565
General and administrative	220,647	215,284	179,382
Significant asset impairments and restructuring costs	24,592	23,834	33,824
Amortization of intangible assets	29,569	37,351	32,511
Acquisition and integration costs	0	3,474	598
Add: other non-performance financial items
Interest and other income, net	50,261	62,008	6,747
Interest expense	(97,028)	(88,026)	(47,050)
Loss on extinguishment and modification of debt	0	(7,874)	0
Less: Provision for income taxes	35,894	68,826	29,603
Net income	83,956	254,827	152,902
Operating Segments
Add: other non-performance financial items
Net income	952,093	1,128,292	935,688
Operating Segments \| Networking Platforms
Add: other non-performance financial items
Net income	536,510	778,641	572,305
Operating Segments \| Platform Software and Services
Add: other non-performance financial items
Net income	231,900	186,945	175,108
Operating Segments \| Blue Planet Automation Software and Services
Add: other non-performance financial items
Net income	(11,892)	(33,669)	(22,388)
Operating Segments \| Global Services
Add: other non-performance financial items
Net income	$ 195,575	$ 196,375	$ 210,663

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Nov. 02, 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 fair value of assets and liabilities that were recorded at fair value on a recurring basis (in thousands):


	November 2, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	636,097	$	—	$	—	$	636,097
Bond mutual fund	112,703		—		—		112,703
Time deposits	92,804		—		—		92,804
Deferred compensation plan assets	16,519		—		—		16,519
U.S. government obligations	—		286,181		—		286,181
Corporate debt securities	—		111,143		—		111,143
Foreign currency forward contracts	—		2,149		—		2,149
Interest rate swaps	—		11,777		—		11,777
Total assets measured at fair value	$	858,123	$	411,250	$	—	$	1,269,373

Liabilities:
Foreign currency forward contracts	$	—	$	9,155	$	—	$	9,155

Total liabilities measured at fair value	$	—	$	9,155	$	—	$	9,155


	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
Commercial paper	—		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 Consolidated Balance Sheet

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


	November 2, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	832,239	$	9,426	$	—	$	841,665
Short-term investments	9,365		306,978		—		316,343
Prepaid expenses and other	—		2,149		—		2,149
Long-term investments	—		80,920		—		80,920
Other long-term assets	16,519		11,777		—		28,296
Total assets measured at fair value	$	858,123	$	411,250	$	—	$	1,269,373

Liabilities:
Accrued liabilities and other short-term obligations	$	—	$	9,155	$	—	$	9,155


Total liabilities measured at fair value	$	—	$	9,155	$	—	$	9,155


	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

GOODWILL (Tables)

12 Months Ended

Nov. 02, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill Allocated by Reportable Segments

The following table presents the goodwill allocated to Ciena’s operating segments as of November 2, 2024 and October 28, 2023, as well as the changes to goodwill during fiscal 2024 (in thousands):


	Balance at October 28, 2023		Translation		Balance at November 2, 2024
Platform Software and Services	$	156,191	$	—	$	156,191
Blue Planet Automation Software and Services	89,049		—		89,049
Networking Platforms	199,525		(58)		199,467
Total	$	444,765	$	(58)	$	444,707

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

REVOLVING CREDIT FACILITY (Details)	Oct. 24, 2023 USD ($)	Nov. 02, 2024 USD ($)	Oct. 23, 2023	Feb. 10, 2023 USD ($)
Letter of Credit
Line of Credit Facility [Line Items]
Letters of credit collateralized by the credit facility		$ 59,100,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Current borrowing capacity				$ 300,000,000
Line of credit outstanding		$ 0
Line of Credit \| Credit Agreement
Line of Credit Facility [Line Items]
Debt instrument, covenant, interest coverage ratio, minimum	3.00
Line of Credit \| Credit Agreement \| Debt Covenant Period Two
Line of Credit Facility [Line Items]
Debt instrument, covenant, leverage ratio, maximum			3.50
Line of Credit \| Credit Agreement \| Debt Covenant Period Three
Line of Credit Facility [Line Items]
Debt instrument, covenant, leverage ratio, maximum	4.00
Line of Credit \| Revolving Credit Facility \| The Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 300,000,000
Line of credit facility, accordion feature, increase limit	450,000,000
Letters of credit collateralized by the credit facility	$ 65,100,000
Debt instrument, stated interest rate	0.00%
Line of Credit \| Revolving Credit Facility \| The Credit Facility \| Debt Covenant Period One
Line of Credit Facility [Line Items]
Debt instrument, covenant, leverage ratio, maximum	5.00
Line of Credit \| Revolving Credit Facility \| The Credit Facility \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.375%
Line of credit facility, unused capacity, commitment fee percentage	0.225%
Line of Credit \| Revolving Credit Facility \| The Credit Facility \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.00%
Line of credit facility, unused capacity, commitment fee percentage	0.30%
Line of Credit \| Revolving Credit Facility \| The Credit Facility \| SOFR \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate, credit spread adjustment	0.10%
Line of Credit \| Revolving Credit Facility \| The Credit Facility \| Base Rate \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.375%
Line of Credit \| Revolving Credit Facility \| The Credit Facility \| Base Rate \| Maximum
Line of Credit Facility [Line Items]
Debt instrument, stated interest rate	1.00%
Basis spread on variable rate	1.00%
Line of Credit \| Letter of Credit \| The Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 200,000,000
Line of Credit \| Swingline Loan \| The Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 50,000,000

INTEREST AND OTHER INCOME, NET

12 Months Ended

Nov. 02, 2024

Other Income and Expenses [Abstract]

INTEREST AND OTHER INCOME, NET

The components of interest and other income, net, were as follows (in thousands):


	Year Ended
	November 2, 2024		October 28, 2023		October 29, 2022
Interest income	$	62,121	$	45,011	$	10,060
Gains (losses) on non-hedge designated foreign currency forward contracts	1,377		(3,896)		(4,018)
Foreign currency exchange gains (losses)	(11,653)		(427)		2,501

Gain on equity investments, net	—		26,368		4,120
Other	(1,584)		(5,048)		(5,916)
Interest and other income, net	$	50,261	$	62,008	$	6,747

During the first quarter of fiscal 2023, the acquisition of Tibit 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. See Note 3 above. During fiscal 2022, Ciena recorded a net gain of $4.1 million on its equity investments.

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 the local currency as their functional currency. During fiscal 2024 and 2023, Ciena recorded $11.7 million and $0.4 million, respectively, in exchange rate losses as a result of monetary assets and liabilities that were transacted in a currency other than the entity’s functional currency. During fiscal 2022, Ciena recorded $2.5 million in exchange

rate gains as a result of monetary assets and liabilities that were transacted in a currency other than the entity’s functional currency. The related remeasurement adjustments were recorded in interest and other income, net on the Consolidated Statements of Operations. From time to time, Ciena uses foreign currency forwards to hedge certain of these balance sheet exposures. 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 Consolidated Statements of Operations. During fiscal 2024, Ciena recorded a gain of $1.4 million from non-hedge designated foreign currency forward contracts. During fiscal 2023 and 2022, Ciena recorded losses of $3.9 million and $4.0 million, respectively, from non-hedge designated foreign currency forward contracts.

SHARE-BASED COMPENSATION EXPENSE - Restricted Stock Units (Details) - Restricted Stock Units (RSUs) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023
Summary of Restricted Stock Unit Activity
Restricted shares outstanding, Beginning balance (in shares)	4,922
Restricted stock units outstanding, granted (in shares)	4,080
Restricted stock units outstanding, vested (in shares)	(2,382)
Restricted stock units outstanding, canceled or forfeited (in shares)	(508)
Restricted shares outstanding, Ending balance (in shares)	6,112
Weighted average grant date fair value per share (in dollars per share)	$ 48.41	$ 53.42
Aggregate fair value	$ 390,995	$ 201,916

REVENUE - Contract Balances (Details) - USD ($) $ in Thousands	Nov. 02, 2024	Oct. 28, 2023
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 908,597	$ 1,003,876
Contract assets for unbilled accounts receivable, net	127,919	150,312
Deferred revenue	$ 237,619	$ 228,460

ACCOUNTS RECEIVABLE

12 Months Ended

Nov. 02, 2024

Receivables [Abstract]

ACCOUNTS RECEIVABLE

As of November 2, 2024, two customers accounted for 13.0% and 12.0% of net accounts receivable, respectively. As of October 28, 2023, two customers accounted for 11.0% and 10.0% of net accounts receivable, respectively. Ciena has not historically experienced a significant amount of bad debt expense. The following table summarizes the activity in Ciena’s allowance for credit losses for the fiscal years indicated (in thousands):


Year Ended	Beginning Balance		Provisions		Net Deductions		Ending Balance
October 29, 2022(1)	$	10,912	$	4,199	$	4,153	$	10,958
October 28, 2023	$	10,958	$	5,718	$	5,022	$	11,654
November 2, 2024	$	11,654	$	7,996	$	9,770	$	9,880

Accounts Receivable Factoring

In certain situations, Ciena may service transferred receivables which qualify as sales. Amounts sold through these arrangements during fiscal 2024, 2023, and 2022 were $18.1 million, $60.3 million, and $11.8 million, respectively. Additionally, in other situations, Ciena may settle receivables through customer paying agent arrangements. Amounts settled through these arrangements for fiscal 2024, 2023, and 2022 were $32.5 million, $41.9 million, and $13.4 million, respectively. Factoring related expense recorded to interest and other income, net was $1.2 million, $3.8 million, and $0.9 million for fiscal 2024, 2023, and 2022, respectively.

CASH EQUIVALENT, SHORT-TERM AND LONG-TERM INVESTMENTS

12 Months Ended

Nov. 02, 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):


	November 2, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
U.S. government obligations	$	285,492	$	751	$	(62)	$	286,181
Corporate debt securities	111,103		137		(97)		111,143
Time deposits	92,803		4		(3)		92,804
	$	489,398	$	892	$	(162)	$	490,128

Included in cash equivalents	$	92,865	$	—	$	—	$	92,865
Included in short-term investments	315,654		734		(45)		316,343
Included in long-term investments	80,879		158		(117)		80,920
	$	489,398	$	892	$	(162)	$	490,128


	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 legal maturities of debt investments at November 2, 2024 (in thousands):


	November 2, 2024
	Amortized Cost		Estimated Fair Value
Less than one year	$	408,519	$	409,208
Due in 1-2 years	80,879		80,920
	$	489,398	$	490,128

Insider Trading Arrangements

3 Months Ended

12 Months Ended

Nov. 02, 2024

Trading Arrangements, by Individual

Material Terms of Trading Arrangement

The following table describes, for the quarter ended November 2, 2024, each trading arrangement for the sale or purchase of our securities adopted, terminated or for which the amount, pricing or timing provisions were modified by our directors and officers (as defined in Rule 16a-1(f) of the Exchange Act) that is either (1) a contract, instruction or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) (a “Rule 10b5-1 trading arrangement”) or (2) a “non-Rule 10b5-1 trading arrangement” (as defined in Item 408(c) of Regulation S-K):

Name
(Title)

Action Taken (Date of Action)

Type of Trading Arrangement

Nature of Trading Arrangement

Duration of Trading Arrangement

Aggregate Number of Securities to be Purchased or Sold

Dino DiPerna (Senior Vice President, Global Research & Development)

Adoption (September 11, 2024)