The MINIFS function is designed to return minimum values in a range based on one or more criteria. In this case, the range we are extracting a minimum value from is E5:E22), named "times".
We are filtering these values first using two range/criteria pairs. The first pair provides a range of B5:B22 (names), with the name in H5 for criteria. The second pair uses the range C5:C22 (actions), with "in" as a criteria.
MINIFS then returns the earliest (minimum) time where name is "Max" and action is "in".
The "last out" time is calculated in a similar way with the MAXIFS function:
Array formula alternatives
The MAXIFS function and MINIFS function were both introduced in Excel 2016. If you are using an older version of Excel, you can use an array formula instead:
Note: these are array formulas and must be entered with control + shift + enter. Excel will add the curly braces automatically.