Exhibit 1032

McGraw Hill, Inc. Form 10-K for the fiscal year ended March 31, 2026

Exhibit 1032 · SEC filing

McGraw Hill, Inc. Form 10-K for the fiscal year ended March 31, 2026

In each state’s decision, we face significant competition and our materials are subject to approvals by state boards of education or other authorities based on an evaluation of alignment to state academic standards and other criteria.

The company describes itself as a top-two K-12 provider serving about 91% of public K-12 districts and says its market is 'fairly concentrated, with a relatively small number of large competitors', naming Houghton Mifflin Harcourt, Pearson, Savvas, Amplify, Cengage and others. It states that Florida, California and Texas have state-made predetermined procurement patterns and that its materials are subject to approval by state boards of education. Item 3 and notes describe 2025 Florida and Illinois complaints alleging pricing violations against the company and Savvas; those are allegations, not findings.

Source: McGraw Hill, Inc.
Date: 11 June 2026
Quoted from: Item 1A, risk factor on state purchasing cycles
Grade: Primary record
Document: https://www.sec.gov/Archives/edgar/data/1951070/000195107026000022/mh-20260331.htm
Accessed: 2026-11-10
Cited by: Findings citing this exhibit

Cited by

Finding INF-3.7: Primary record McGraw Hill's Form 10-K filed 11 June 2026 states that its market is fairly concentrated and that its K-12 materials in California, Florida and Texas are subject to approval by state boards of education. Texas Education Code section 31.022 requires the State Board of Education to determine that instructional material is free from factual error before approving it, and California Education Code section 60200 has the State Board adopt at least five basic instructional materials per subject for kindergarten through grade 8.