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Because the two rules are in conflict, only one can apply.The rule that is applied is the one that is higher in precedence (higher in the list in the dialog box).The cell in B4, 10/4/2010, is less than 60 days from today, so it evaluates as True, and is formatted with a yellow background color. Any cell that was first formatted red by the highest rule in the list is left alone.A rule higher in the list has greater precedence than a rule lower in the list.
For a range of cells, if a formatting rule is evaluated as True, it takes precedence over an existing manual format.You apply a manual format by using the buttons in the Font group on the Home tab (Excel 2016/2013) or Cells group on the Home tab (Excel 2010/2007).If you delete the conditional formatting rule, the manual formatting for the range of cells remains.(On the Home tab, click Conditional Formatting, and then click Manage Rules.) When two or more conditional formatting rules apply to a range of cells, these rules are evaluated in order of precedence (top to bottom) by how they are listed in this dialog box.
Here's an example that has expiration dates for ID badges.
While editing your worksheet, you may copy and paste cell values that have conditional formats, fill a range of cells with conditional formats, or use the Format Painter.