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I have an Approval Process Instance report which tells me the amount of time (Elapsed Days, Hours, Minutes, etc..) between when an approval instance was submitted and when it was completed.

Is it possible somehow to calculate this value but exclude Saturdays and Sundays?

As far as I can tell I am limited to using the Report Formula function. I don't believe I can add any custom fields to Approval Instance. And this report type does not support any fields from the actual object either.

If I need to do this in Excel that is also acceptable.

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You could create a formula field that you can exclude the weekend days. The problem is that you're saying you cannot add any fields to the report type thus that idea is moot. I think you might be stuck with excel or if you can figure out how to add in fields to the report type, which feels strange that you can't, but if you can then there are examples out there.

Date Formula to Calculate date excluding weekends

Using formula to exclude weekend and holidays in salesforce

Excluding weekend and holidays from my days number

https://help.salesforce.com/HTViewSolution?id=000003920

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