Calendarizing

For calendarizing to get to an LTM figure any point during the year (for future years), you have to take the proportion of revenue (if that's what you're calendarizing) arrived YTD and add it to the proportion of revenue you're taking from the previous year.

• % of Revenue YTD from Next Year + % of Revenue from Last Year
• Next year's revenue is yet to arrive in full, but a portion of it has arrived (can be calendarized)
• % of Revenue is calculated by x/12, where x is the number of months
• So (3/12 x 2021 Dec Revenue) + (9/12 x 2022 Dec Revenue)
• This get's you LTM Revenue for September 2022
• Remember that on the IS, Dec 2022 will mean revenue until the end of Dec 22, so it's the revenue that comes from Dec 21 - Dec 22.