Dave, I think it's because the formula you are using does not take into consideration the entire date ranges as a whole. For example, if there are dates that overlaps, but are not in adjacent cells. For example, if you swap the last 2 dates at the bottom of the OPs example, the result would not be correct.
Row\Col A B C D 1Start date End date 2 06-Jan 10-Jan 0=SUM(IF(FREQUENCY(ROW(INDIRECT($A2&":"&$B2)),IFERROR(ROW(INDIRECT($A1&":"&$B1)),0))=1,1,0))+$C1 3 13-Jan 20-Jan 0 4 18-Jan 25-Jan 3 5 12-Jan 22-Jan 7
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