Originally Posted by
DanK
That's my interpretation as well. I use only one (or two, depending on whether you count ACR and Lightroom as different) raw converter, but in that case, I believe "as shot" is a reading of the image as it was taken, before the value after alteration, whether by an auto adjustment or a manual adjustment.
I had always assumed that this was simply read from EXIF, but if that were the case, all of the programs would give the same as shot value. I wonder if the DxO is after an automatic adjustment.