here is my attempt to answer your questions... The filters work on all paid search campaigns labelled as cpc or ppc (i.e. all Adwords and others if you are using campaign tracking in your landing page URLs). If we just consider visitors that click on your paid search ads, then ALL these visits will have the double label in the keywords report. For example: bid_term1 bid_term2 (search_term1+search_term2) This is the same whether the search_term matches the bid_term or not. That is how these filters work -- the modification is made for ALL paid keywords. So why are some keywords missing the brackets? Consider the scenario where a visitor first clicks your ad, likes your site, bookmarks a page then leaves. The next day they return by clicking on their bookmark. The second visit will contain all the campaign parameters as the first -- GA gets this information from the referrer cookie (called utmz in Google Analytics), which lasts 6 months unless the visitor deletes it. However there is no referrer for this visit -- they came direct. The result is that the first filter will not match. Hence the keyword information retrieved from the utmz cookie is not modified. This is what I believe is happening. As conversions rarely happen on a first visit, it appears to make sense to me that you are seeing transactions associated with the non-modified keywords, though I am surprised that this is ALL transactions. Is that still the case now? The same situation occurs