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Formatting a formula 

A not so well documented feature of Excel is that it is possible to format a formula to improve readability.  For example, it is possible to have a formula look like:


with the corresponding screenshots

"In-cell" editing:

Editing in the formula bar

Of course, the typical and default formula would look like:


or the corresponding screenshot:

How to format a formula

It's actually quite easy.  Use the key combination ALT+ENTER to create a 'new line' in a formula.  To add an indent simply use the space bar!

A caveat

Under some circumstances that I cannot replicate, Excel will reformat the formula back to the default style.  So, please keep that in mind before you invest a significant amount of effort formatting formulas.