The first thing I did was to type some times into cells in column A using your format as input (ie: I typed 13:47:50.01, 13:47:50.02, 13:47:50.03). I then did a copy down to create about 150 rows of data to test with, the greatest value (max) being on the bottom row. At this point, the 100ths didn't show in the data, but I knew it would be stored internally, so I didn't mess with the formatting yet.
I then typed the formula ... =MAX(A1:A150) into cell B1. It gave me all zeros as a result and dropped the 100ths same as what showed in column A. Well, we know 00:00:00 isn't right.
I then highlighted the data only, not the entire column, and formatted all of the data cells in column A using the custom data type format and created a new mask of hh:mm:ss.00 (note, that is a period, not a colon before the zeros). I could then see the 100ths were present for all of the times in column A. But, my formula cell still showed all zeros.
So, I formatted cell B1 (my formula cell) using the SAME custom data type format mask of hh:mm:ss.00 and it THEN displayed the last time in column A, which it should have because it was max for my data.
So, I tested with another custom data type format mask in Column A using [h]:mm:ss.00 for all of the cells with times in them. My formula cell B1 changed to showing all zeros and dropping the 100ths again, so I formatted it with the SAME format that was used on the data in column A, ie: [h]:mm:ss.00 ... and it went back to showing me the largest value in column A along with the 100ths.
I think there are two key points here. First, you can not just click the column header and format the whole column. You must highlight JUST the cells with data in them and apply your formatting. Second is that your formula cell MUST be formatted with the same mask as the data it's looking at, or it produces zeros.
Hope this helps.
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