Do the New and Returning Subscriber Analytics include ALL subscriptions?

Follow

To provide clarification, the New vs. Renewing categories in the Subscribers dashboard are not based upon the subscription, but rather on the account:

• A subscriber is considered "new" if they are creating their first subscription.
• A subscriber is considered "returning" if they were previously a subscriber, churned for at least 1 day, and has now opened a new subscription. 

Based on this logic, if a new or returning subscriber has 2 active subscriptions on their account, they would still only count as "1" for the Subscriber Analytics.