Lets take a look.

Here we have the same pivot table we looked at earlier.

Before we make any changes, lets add Product as a Row Label above the Region field.

Now we have multiple instances of the calculated item Eastern.

If you want to update this name, just pop in a new name directly in the table.

And if you click OK, youll get a new Calculated item with the same formula.

Well delete this extra calculated item, and rename New Eastern back to Eastern.

Lets now look at how to change a calculated items formula.

But first, lets make Region a Column Label to make the pivot table more compact.

And we see the same formula at each location.

Lets edit the first instance of this formula by removing South.

As you might see, the formula is easily updated.

However, note that the change we made is local.

We can verify this behavior by checking the Insert Calculated Item dialog box.

Here, we see the original formula.