What data is used in segments?

When a segment is applied it seems it uses the raw data. I wonder if this has changed?
Before we could apply segments on older data. We delete the raw data after 40 days so now when we use any segment we can only see statistics from the last 40 days.
We have installed 4.31 and I wonder if something has changed for the segments?
Is there some setting we can do to make the segment use older data?

Grateful for any help!