diff --git a/ClosedXML/Excel/Cells/IXLCell.cs b/ClosedXML/Excel/Cells/IXLCell.cs
index d685041..d3efb2e 100644
--- a/ClosedXML/Excel/Cells/IXLCell.cs
+++ b/ClosedXML/Excel/Cells/IXLCell.cs
@@ -260,7 +260,7 @@
         IXLCells InsertCellsBefore(int numberOfColumns);
 
         /// <summary>
-        /// Creates a named range out of this cell. 
+        /// Creates a named range out of this cell.
         /// <para>If the named range exists, it will add this range to that named range.</para>
         /// <para>The default scope for the named range is Workbook.</para>
         /// </summary>
@@ -268,7 +268,7 @@
         IXLCell AddToNamed(String rangeName);
 
         /// <summary>
-        /// Creates a named range out of this cell. 
+        /// Creates a named range out of this cell.
         /// <para>If the named range exists, it will add this range to that named range.</para>
         /// <param name="rangeName">Name of the range.</param>
         /// <param name="scope">The scope for the named range.</param>
@@ -276,7 +276,7 @@
         IXLCell AddToNamed(String rangeName, XLScope scope);
 
         /// <summary>
-        /// Creates a named range out of this cell. 
+        /// Creates a named range out of this cell.
         /// <para>If the named range exists, it will add this range to that named range.</para>
         /// <param name="rangeName">Name of the range.</param>
         /// <param name="scope">The scope for the named range.</param>
@@ -322,6 +322,7 @@
         IXLCell SetActive(Boolean value = true);
 
         Boolean HasFormula { get; }
+        Boolean HasArrayFormula { get; }
 
         IXLRangeAddress FormulaReference { get; set; }
     }
diff --git a/ClosedXML/Excel/Cells/XLCell.cs b/ClosedXML/Excel/Cells/XLCell.cs
index fc5db80..5815958 100644
--- a/ClosedXML/Excel/Cells/XLCell.cs
+++ b/ClosedXML/Excel/Cells/XLCell.cs
@@ -2592,6 +2592,8 @@
 
         public Boolean HasFormula { get { return !String.IsNullOrWhiteSpace(FormulaA1); } }
 
+        public Boolean HasArrayFormula { get { return FormulaA1.StartsWith("{"); } }
+
         public IXLRangeAddress FormulaReference { get; set; }
     }
 }
diff --git a/ClosedXML/Excel/XLWorkbook_Load.cs b/ClosedXML/Excel/XLWorkbook_Load.cs
index 2389524..45d86a7 100644
--- a/ClosedXML/Excel/XLWorkbook_Load.cs
+++ b/ClosedXML/Excel/XLWorkbook_Load.cs
@@ -1175,7 +1175,13 @@
                     formula = cell.CellFormula.Text;
 
                 if (cell.CellFormula.Reference != null)
-                    xlCell.FormulaReference = ws.Range(cell.CellFormula.Reference.Value).RangeAddress;
+                {
+                    foreach (var childCell in ws.Range(cell.CellFormula.Reference.Value).Cells(c => c.FormulaReference == null))
+                    {
+                        childCell.FormulaReference = ws.Range(cell.CellFormula.Reference.Value).RangeAddress;
+                        childCell.FormulaA1 = formula;
+                    }
+                }
 
                 xlCell.FormulaA1 = formula;
                 sharedFormulasR1C1.Add(cell.CellFormula.SharedIndex.Value, xlCell.FormulaR1C1);
@@ -1187,7 +1193,7 @@
             {
                 if (cell.CellFormula.SharedIndex != null)
                     xlCell.FormulaR1C1 = sharedFormulasR1C1[cell.CellFormula.SharedIndex.Value];
-                else
+                else if (!String.IsNullOrWhiteSpace(cell.CellFormula.Text))
                 {
                     String formula;
                     if (cell.CellFormula.FormulaType != null && cell.CellFormula.FormulaType == CellFormulaValues.Array)
@@ -1199,7 +1205,16 @@
                 }
 
                 if (cell.CellFormula.Reference != null)
-                    xlCell.FormulaReference = ws.Range(cell.CellFormula.Reference.Value).RangeAddress;
+                {
+                    foreach (var childCell in ws.Range(cell.CellFormula.Reference.Value).Cells(c => c.FormulaReference == null || !c.HasFormula))
+                    {
+                        if (childCell.FormulaReference == null)
+                            childCell.FormulaReference = ws.Range(cell.CellFormula.Reference.Value).RangeAddress;
+
+                        if (!childCell.HasFormula)
+                            childCell.FormulaA1 = xlCell.FormulaA1;
+                    }
+                }
 
                 if (cell.CellValue != null)
                     xlCell.ValueCached = cell.CellValue.Text;
@@ -2399,4 +2414,4 @@
             return false;
         }
     }
-}
\ No newline at end of file
+}