In this paper, a data processing approach was developed to accurately extract the ring-down time and amplitude of the saturated cavity ring-down (CRD) signal; both were utilized to determine simultaneously the high reflectance and residual transmittance of highly reflective (HR) mirrors with a dual-channel CRD configuration. The influence of saturation was eliminated by deleting the beginning saturated data points of the saturated CRD signal and fitting the remaining non-saturated CRD signal to a single-exponential function. By comparing the reflectance/transmittance measurement results of HR samples obtained via data processing of saturated CRD signals and via single-exponentially fitting non-saturated CRD signals with utilization of neutral density filter(s) to eliminate saturation, it was found that the reflectances obtained with both methods were in excellent agreement, while the residual transmittance obtained with the saturated CRD signal was more accurate than that obtained with the neutral-density-filter-attenuated non-saturated CRD signal. The proposed data processing method eliminated the need to use the neutral density filters, therefore avoiding the adding of the optical density error to the uncertainty of residual transmittance measurement and improving the measurement accuracy. The proposed data processing method also extended the dynamic range of the dual-channel CRD scheme for simultaneous measurement of reflectance, transmittance and optical loss.