In general, techniques are described for processing high dynamic range (HDR) and wide color gamut (WCG) video data for video coding. A device comprising a memory and a processor may perform the techniques. The memory may store compacted fractional chromaticity coordinate (FCC) formatted video data. The processor may inverse compact the compacted FCC formatted video data using one or more inverse adaptive transfer functions (TFs) to obtain decompacted FCC formatted video data. The processor may next inverse adjust a chromaticity component of the decompacted FCC formatted video data based on a corresponding luminance component of the decompacted FCC formatted video data to obtain inverse adjusted FCC formatted video data. The processor may convert the chromaticity component of the inverse adjusted FCC formatted video data from the FCC format to a color representation format to obtain High Dynamic Range (HDR) and Wide Color Gamut (WCG) video data.