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Audacy, Inc. – ‘10-K’ for 12/31/23 – ‘EX-31.1’

On:  Friday, 3/22/24, at 5:29pm ET   ·   For:  12/31/23   ·   Accession #:  1628280-24-12758   ·   File #:  1-14461

Previous ‘10-K’:  ‘10-K’ on 3/16/23 for 12/31/22   ·   Next & Latest:  ‘10-K/A’ on 4/29/24 for 12/31/23   ·   31 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/22/24  Audacy, Inc.                      10-K       12/31/23  137:13M                                    Workiva Inc Wde… FA01/FA

Annual Report   —   Form 10-K   —   SEA’34

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   2.24M 
 2: EX-21.1     Subsidiaries List                                   HTML     50K 
 7: EX-97.1     Clawback Policy re: Recovery of Erroneously         HTML     53K 
                Awarded Compensation                                             
 3: EX-31.1     Certification -- §302 - SOA'02                      HTML     39K 
 4: EX-31.2     Certification -- §302 - SOA'02                      HTML     39K 
 5: EX-32.1     Certification -- §906 - SOA'02                      HTML     36K 
 6: EX-32.2     Certification -- §906 - SOA'02                      HTML     36K 
13: R1          Cover Page                                          HTML    101K 
14: R2          Audit Information                                   HTML     40K 
15: R3          Consolidated Balance Sheets                         HTML    156K 
16: R4          Consolidated Balance Sheets (Parenthetical)         HTML     61K 
17: R5          Consolidated Statements of Operations               HTML    114K 
18: R6          Consolidated Statements of Comprehensive Loss       HTML     54K 
19: R7          Consolidated??Statements??Of??Shareholders???(Defi  HTML    109K 
                cit) Equity                                                      
20: R8          Consolidated Statements of Cash Flows               HTML    131K 
21: R9          Basis of Presentation                               HTML     53K 
22: R10         Significant Accounting Policies                     HTML    118K 
23: R11         Acquisitions and Dispositions                       HTML     50K 
24: R12         Restructuring Charges                               HTML     57K 
25: R13         Revenue                                             HTML     77K 
26: R14         Accounts Receivable and Related Allowance for       HTML     67K 
                Doubtful Accounts and Sales Reserves                             
27: R15         Leases                                              HTML     77K 
28: R16         Intangible Assets and Goodwill                      HTML    142K 
29: R17         Other Current Liabilities                           HTML     46K 
30: R18         Long-Term Debt                                      HTML    134K 
31: R19         Derivative and Hedging Activities                   HTML     56K 
32: R20         Impairment Loss                                     HTML     46K 
33: R21         Shareholders? (Deficit) Equity                      HTML     65K 
34: R22         Net Loss Per Common Share                           HTML     73K 
35: R23         Share-Based Compensation                            HTML    153K 
36: R24         Income Taxes                                        HTML    147K 
37: R25         Supplemental Cash Flow Disclosures on Non-Cash      HTML     54K 
                Activities                                                       
38: R26         Employee Savings and Benefit Plans                  HTML     49K 
39: R27         Fair Value of Financial Instruments                 HTML    126K 
40: R28         Assets Held for Sale                                HTML     47K 
41: R29         Contingencies and Commitments                       HTML     69K 
42: R30         Subsequent Events                                   HTML     44K 
43: R31         Significant Accounting Policies (Policies)          HTML    156K 
44: R32         Significant Accounting Policies (Tables)            HTML     97K 
45: R33         Acquisitions and Dispositions (Tables)              HTML     42K 
46: R34         Restructuring Charges (Tables)                      HTML     57K 
47: R35         Revenue (Tables)                                    HTML     68K 
48: R36         Accounts Receivable and Related Allowance for       HTML     68K 
                Doubtful Accounts and Sales Reserves (Tables)                    
49: R37         Leases (Tables)                                     HTML     81K 
50: R38         Intangible Assets and Goodwill (Tables)             HTML    137K 
51: R39         Other Current Liabilities (Tables)                  HTML     47K 
52: R40         Long-Term Debt (Tables)                             HTML    103K 
53: R41         Derivative and Hedging Activities (Tables)          HTML     48K 
54: R42         Impairment Loss (Tables)                            HTML     45K 
55: R43         Shareholders? (Deficit) Equity (Tables)             HTML     58K 
56: R44         Net Loss Per Common Share (Tables)                  HTML     70K 
57: R45         Share-Based Compensation (Tables)                   HTML    145K 
58: R46         Income Taxes (Tables)                               HTML    150K 
59: R47         Supplemental Cash Flow Disclosures on Non-Cash      HTML     54K 
                Activities (Tables)                                              
60: R48         Employee Savings and Benefit Plans (Tables)         HTML     48K 
61: R49         Fair Value of Financial Instruments (Tables)        HTML    113K 
62: R50         Assets Held for Sale (Tables)                       HTML     44K 
63: R51         Contingencies and Commitments (Tables)              HTML     72K 
64: R52         Basis of Presentation (Details)                     HTML     78K 
65: R53         SIGNIFICANT ACCOUNTING POLICIES - Narrative         HTML     84K 
                (Details)                                                        
66: R54         SIGNIFICANT ACCOUNTING POLICIES - Property and      HTML     75K 
                Equipment (Details)                                              
67: R55         SIGNIFICANT ACCOUNTING POLICIES - Unearned Revenue  HTML     39K 
                (Details)                                                        
68: R56         SIGNIFICANT ACCOUNTING POLICIES - Schedule of       HTML     44K 
                Restricted Cash and Cash Equivalents (Details)                   
69: R57         ACQUISITIONS AND DISPOSITIONS - Narrative           HTML     76K 
                (Details)                                                        
70: R58         ACQUISITIONS AND DISPOSITIONS - Purchase Price      HTML     45K 
                Allocation (Details)                                             
71: R59         RESTRUCTURING CHARGES - Restructuring charges       HTML     48K 
                (Details)                                                        
72: R60         RESTRUCTURING CHARGES - Accrued Restructuring       HTML     49K 
                (Details)                                                        
73: R61         REVENUE - Narrative (Details)                       HTML     44K 
74: R62         REVENUE - Contract Balances (Details)               HTML     51K 
75: R63         REVENUE - Disaggregation of Revenue (Details)       HTML     52K 
76: R64         Accounts Receivable and Related Allowance for       HTML     61K 
                Doubtful Accounts and Sales Reserves (Details)                   
77: R65         LEASES - Narrative (Details)                        HTML     42K 
78: R66         LEASES - Lease Expense (Details)                    HTML     45K 
79: R67         LEASES - Supplemental Cash Flow (Details)           HTML     39K 
80: R68         LEASES - Supplemental Balance Sheet (Details)       HTML     47K 
81: R69         LEASES - Maturity Schedule (Details)                HTML     54K 
82: R70         INTANGIBLE ASSETS AND GOODWILL - Narrative          HTML     59K 
                (Details)                                                        
83: R71         INTANGIBLE ASSETS AND GOODWILL - Broadcasting       HTML     48K 
                Licenses (Details)                                               
84: R72         INTANGIBLE ASSETS AND GOODWILL - Goodwill           HTML     51K 
                (Details)                                                        
85: R73         INTANGIBLE ASSETS AND GOODWILL - Assumption used    HTML     53K 
                for Impairment Analysis (Details)                                
86: R74         INTANGIBLE ASSETS AND GOODWILL - Schedule of        HTML     61K 
                Intangible Assets Included in Other Assets                       
                (Details)                                                        
87: R75         INTANGIBLE ASSETS AND GOODWILL - Schedule of        HTML     42K 
                Intangible Assets Amortization Expense (Details)                 
88: R76         INTANGIBLE ASSETS AND GOODWILL - Future             HTML     52K 
                Amortization Expense (Details)                                   
89: R77         Other Current Liabilities (Details)                 HTML     48K 
90: R78         LONG-TERM DEBT - Long Term Debt (Details)           HTML     78K 
91: R79         LONG-TERM DEBT - Prepetition Debt Narrative         HTML     91K 
                (Details)                                                        
92: R80         LONG-TERM DEBT - Postpetition Debt Narrative        HTML     81K 
                (Details)                                                        
93: R81         LONG-TERM DEBT - Anticipated Post-Emergence Debt    HTML     63K 
                Narrative (Details)                                              
94: R82         LONG-TERM DEBT - Net Interest Expense (Details)     HTML     65K 
95: R83         LONG-TERM DEBT - Maturities (Details)               HTML     72K 
96: R84         DERIVATIVE AND HEDGING ACTIVITIES - Narrative       HTML     53K 
                (Details)                                                        
97: R85         DERIVATIVE AND HEDGING ACTIVITIES - Derivatives     HTML     37K 
                Expired (Details)                                                
98: R86         DERIVATIVE AND HEDGING ACTIVITIES - Gain (Loss)     HTML     40K 
                from Derivatives (Details)                                       
99: R87         Impairment Loss (Details)                           HTML     46K 
100: R88         Shareholders? (DEFICIT) EQUITY - RSU Vested Period  HTML     42K  
                (Details)                                                        
101: R89         Shareholders? (DEFICIT) EQUITY - Deemed Stock       HTML     38K  
                Repurchase (Details)                                             
102: R90         Shareholders? (DEFICIT) EQUITY - Narrative          HTML     46K  
                (Details)                                                        
103: R91         Shareholders? (DEFICIT) EQUITY - Stock Purchase     HTML     50K  
                Plan (Details)                                                   
104: R92         NET LOSS PER COMMON SHARE - Basic and Diluted Net   HTML     70K  
                Income (Loss) (Details)                                          
105: R93         NET LOSS PER COMMON SHARE - Narrative (Details)     HTML     36K  
106: R94         NET LOSS PER COMMON SHARE - Antidilutive            HTML     53K  
                Securities (Details)                                             
107: R95         SHARE-BASED COMPENSATION - Narrative (Details)      HTML     50K  
108: R96         SHARE-BASED COMPENSATION - RSU Plan During Current  HTML     74K  
                Period (Details)                                                 
109: R97         SHARE-BASED COMPENSATION - RSU Activity (Details)   HTML     66K  
110: R98         SHARE-BASED COMPENSATION - Schedule of RSU's        HTML     69K  
                (Details)                                                        
111: R99         SHARE-BASED COMPENSATION - Valuation Method         HTML     43K  
                (Details)                                                        
112: R100        SHARE-BASED COMPENSATION - Options Activity         HTML     80K  
                (Details)                                                        
113: R101        SHARE-BASED COMPENSATION - Schedule of Significant  HTML     71K  
                Ranges of Outstanding and Exercisable Options                    
                (Details)                                                        
114: R102        SHARE-BASED COMPENSATION - Recognized Non-Cash      HTML     54K  
                Stock-Based Compensation Expense (Details)                       
115: R103        INCOME TAXES - Expected And Reported Income Taxes   HTML     57K  
                (Benefit) (Details)                                              
116: R104        INCOME TAXES - Narrative (Details)                  HTML     41K  
117: R105        INCOME TAXES - Expense (Benefit) (Details)          HTML     57K  
118: R106        INCOME TAXES - Deferred Tax Assets and Liabilities  HTML     83K  
                (Details)                                                        
119: R107        INCOME TAXES - Valuation Allowance And Uncertain    HTML     61K  
                Tax Position (Details)                                           
120: R108        INCOME TAXES - Operating Loss and Interest Expense  HTML     46K  
                Carryforwards (Details)                                          
121: R109        Supplemental Cash Flow Disclosures on Non-Cash      HTML     51K  
                Activities (Details)                                             
122: R110        Employee Savings and Benefit Plans (Details)        HTML     46K  
123: R111        FAIR VALUE OF FINANCIAL INSTRUMENTS - Recurring     HTML     66K  
                Fair Value Measurements (Details)                                
124: R112        FAIR VALUE OF FINANCIAL INSTRUMENTS - Narrative     HTML     79K  
                (Details)                                                        
125: R113        FAIR VALUE OF FINANCIAL INSTRUMENTS - Carrying      HTML     59K  
                Value (Details)                                                  
126: R114        FAIR VALUE OF FINANCIAL INSTRUMENTS - Cost Method   HTML     42K  
                Investments (Details)                                            
127: R115        ASSETS HELD FOR SALE - Narrative (Details)          HTML     47K  
128: R116        ASSETS HELD FOR SALE - Major Categories (Details)   HTML     45K  
129: R117        CONTINGENCIES AND COMMITMENTS - Narrative           HTML     43K  
                (Details)                                                        
130: R118        CONTINGENCIES AND COMMITMENTS - Tower Rental        HTML     36K  
                Income (Details)                                                 
131: R119        CONTINGENCIES AND COMMITMENTS - Future Minimum      HTML     79K  
                Annual Commitments (Details)                                     
132: R120        Subsequent Events (Details)                         HTML     63K  
134: XML         IDEA XML File -- Filing Summary                      XML    256K  
137: XML         XBRL Instance -- aud-20231231_htm                    XML   3.05M  
133: EXCEL       IDEA Workbook of Financial Report Info              XLSX    283K  
 9: EX-101.CAL  XBRL Calculations -- aud-20231231_cal                XML    323K 
10: EX-101.DEF  XBRL Definitions -- aud-20231231_def                 XML   1.07M 
11: EX-101.LAB  XBRL Labels -- aud-20231231_lab                      XML   2.41M 
12: EX-101.PRE  XBRL Presentations -- aud-20231231_pre               XML   1.68M 
 8: EX-101.SCH  XBRL Schema -- aud-20231231                          XSD    318K 
135: JSON        XBRL Instance as JSON Data -- MetaLinks              692±  1.06M  
136: ZIP         XBRL Zipped Folder -- 0001628280-24-012758-xbrl      Zip    637K

‘EX-31.1’   —   Certification — §302 – SOA’02

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EXHIBIT 31.1
CERTIFICATION OF PRESIDENT AND CHIEF EXECUTIVE OFFICER
I, David J. Field, certify that:
1. I have reviewed this annual report on Form 10-K of Audacy, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.
3.    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.    The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
(a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c)    Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
(d)    Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5.    The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
(a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
(b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
Date: March 22, 2024

By:/s/ David J. Field
Name:David J. Field
Title:Chairman, Chief Executive Officer and President
(principal executive officer)


Dates Referenced Herein

This ‘10-K’ Filing    Date    Other Filings
Filed on:3/22/24None on these Dates
For Period end:12/31/23
 List all Filings 

31 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/21/24  Audacy, Inc.                      8-K:1,7,9   2/20/24   13:1.1M                                   Donnelley … Solutions/FA
 1/10/24  Audacy, Inc.                      8-K:1,2,7,9 1/08/24   15:1.4M                                   Donnelley … Solutions/FA
 1/08/24  Audacy, Inc.                      8-K:1,2,5,7 1/04/24   22:17M                                    Donnelley … Solutions/FA
12/11/23  Audacy, Inc.                      8-K:1,9    12/08/23   14:337K                                   Donnelley … Solutions/FA
11/30/23  Audacy, Inc.                      8-K:1,8,9  11/29/23   14:324K                                   Donnelley … Solutions/FA
11/20/23  Audacy, Inc.                      8-K:1,9    11/19/23   12:221K                                   Donnelley … Solutions/FA
11/15/23  Audacy, Inc.                      8-K:1,9    11/13/23   12:227K                                   Donnelley … Solutions/FA
11/06/23  Audacy, Inc.                      8-K:1,9    11/03/23   12:287K                                   Donnelley … Solutions/FA
10/30/23  Audacy, Inc.                      8-K:1,8,9  10/27/23   11:182K                                   Donnelley … Solutions/FA
10/13/23  Audacy, Inc.                      8-K:5,9    10/12/23   11:161K                                   Donnelley … Solutions/FA
 8/07/23  Audacy, Inc.                      10-Q        6/30/23   92:7.9M
 6/30/23  Audacy, Inc.                      8-K:3,5,7,9 6/30/23   12:178K                                   Donnelley … Solutions/FA
 6/23/23  Audacy, Inc.                      8-K:5,8,9   6/19/23   11:181K                                   Donnelley … Solutions/FA
 3/16/23  Audacy, Inc.                      10-K       12/31/22  151:15M
 5/10/22  Audacy, Inc.                      S-8         5/10/22    6:124K                                   Donnelley … Solutions/FA
 5/10/22  Audacy, Inc.                      S-8         5/10/22    6:222K                                   Donnelley … Solutions/FA
 3/01/22  Audacy, Inc.                      10-K       12/31/21  154:17M                                    Workiva Inc Wde… FA01/FA
10/20/21  Audacy, Inc.                      8-K:1,2,8,910/20/21   12:196K                                   Donnelley … Solutions/FA
 8/06/21  Audacy, Inc.                      10-Q        6/30/21   94:11M                                    Workiva Inc Wde… FA01/FA
 5/19/21  Audacy, Inc.                      8-K:1,5,9   5/14/21   16:839K                                   Donnelley … Solutions/FA
 3/29/21  Audacy, Inc.                      8-K:1,2,9   3/25/21   11:1.2M                                   Donnelley … Solutions/FA
 3/09/21  Audacy, Inc.                      8-K:1,2,9   3/05/21   11:194K                                   Donnelley … Solutions/FA
 3/01/21  Audacy, Inc.                      10-K       12/31/20  144:16M                                    Workiva Inc Wde… FA01/FA
11/09/20  Audacy, Inc.                      10-Q        9/30/20   96:9.1M                                   Workiva Inc Wde… FA01/FA
 3/02/20  Audacy, Inc.                      10-K       12/31/19  151:23M                                    Workiva Inc Wde… FA01/FA
12/16/19  Audacy, Inc.                      8-K:1,2,8,912/10/19   14:1.8M                                   Donnelley … Solutions/FA
 5/01/19  Audacy, Inc.                      8-K:1,2,9   4/30/19    3:1.9M                                   Donnelley … Solutions/FA
11/17/17  Audacy, Inc.                      8-K:1,2,5,811/16/17   12:1.1M                                   Donnelley … Solutions/FA
 8/04/17  Audacy, Inc.                      10-Q        6/30/17   76:9M                                     Donnelley … Solutions/FA
 2/26/09  Audacy, Inc.                      10-K       12/31/08   10:3.8M                                   Toppan Merrill/FA
11/21/07  Audacy, Inc.                      10-Q/A      9/30/07    4:198K                                   Toppan Merrill/FA
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