How do I add criteria to formula?

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The smartsheet template I'm utilizing has a built-in formula for the status that is based off of the children...

=IF(COUNTIF(CHILDREN(), "Completed") = COUNT(CHILDREN()), "Completed", IF(COUNTIF(CHILDREN(), "Not Started") = COUNT(CHILDREN()), "Not Started", IF(COUNTIF(CHILDREN(), "In Progress") > 0, "In Progress", IF(COUNTIF(CHILDREN(), "Not Started") > 0, "In Progress", IF(COUNTIF(CHILDREN(), "Blocked") > 0, "In Progress")))))

For this particular project I have added the value "Nothing to Submit" to the Status dropdown list. How do I modify the existing formula to reference the parent as "Completed" even when the children's value is "Nothing to Submit"?

Any assistance is greatly appreciated!

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