Systems and methods for processing linear colorspace data may be reused to process nonlinear colorspace data at a comparable performance level while maintaining the precision of the nonlinear colorspace data. Nonlinear colorspace data is converted to a compact floating point format in a linear colorspace used by conventional graphics processors. The compact floating point format includes an 8 bit explicit mantissa (without an implied leading one) and a 3 bit exponent to maintain the precision of the nonlinear colorspace data. The 8 bit mantissa may be processed by conventional texture filtering units designed to process 8 bit (fixed or floating point) color values. The 3 bit exponent may by processed by conventional texture filtering units designed to process floating point color values.