It's official. The TimkenSteel COLA adjustment has been calculated and confirmed. Bottom line, the $0.79 increase will become effective August 7, 2022.Quick version: June 21 is used for the March and June 2022 adjustments. That figure is used to create a Base Index Trigger (June 21 figure x 103%) and Cap (June 21 figure x 106%). June exceeded the cap. Subtract the Base Index from the Cap and divide by 0.3.
So going forward, the June 2022 figure becomes the Base Index for the next four (4) calculations. Which will be September 2022, December 2022, March 2023 and June 2023.