The calculated load could be all continuous, or all non-continuous, or some combination thereof. If the calculated load is 100kVA;
That could be 50kVA continuous and 50kVA non-continuous, or...
That could be 10kVA continuous and 90kVA non-continuous, or...
That could be 87.5kVA continuous and 12.5kVA non-continuous...
I think there is a misconception that if you have a load that is 50kVA continuous and 50kVA non-continuous, then the "calculated load" is 112.5kVA. I don't think you'll find anything in 220.40 that says the calculated load is 100% of the non-continuous plus 125% of the continuous load. The 125% of continuous load is found in Article 215 relating to the sizing of the feeder conductors and OCP for the feeder.
Take a look at example D3 in the appendix. It show a non-continuous load of 12.2kVA, a continuous load of 16.2kVA, and a total load of 28.4kVA (not a total load of 32.75kVA.)