1.0.0.3
false
Intangible Assets and Goodwill
false
1
$
false
false
Shares
Standard
http://www.xbrl.org/2003/instance
shares
xbrli
0
USD
Standard
http://www.xbrl.org/2003/iso4217
USD
iso4217
0
USDPerShare
Divide
http://www.xbrl.org/2003/iso4217
USD
iso4217
http://www.xbrl.org/2003/instance
shares
xbrli
0
2
0
lm_NotesToConsolidatedFinancialStatementsAbstract
lm
false
na
duration
string
No definition available.
false
false
false
false
false
true
false
false
false
|
1
false
false
0
0
false
false
|
No definition available.
false
3
1
us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
us-gaap
true
na
duration
string
No definition available.
false
false
false
false
false
false
false
false
false
|
1
false
false
0
0
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML><HEAD>
<META http-equiv=Content-Type content="text/html; charset=utf-8">
<META content="MSHTML 6.00.2900.3492" name=GENERATOR></HEAD>
<BODY>
<P
style="MARGIN-TOP: 9pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=justify><B>5. Intangible Assets and Goodwill </B></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0pt; LINE-HEIGHT: 14pt" align=justify>The
following tables reflect the components of intangible assets as of: </P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0 align=center>
<TBODY>
<TR>
<TD width=214></TD>
<TD width=103></TD>
<TD width=100></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=286>
<P style="FONT-SIZE: 2pt"> </P></TD>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=137>
<P style="FONT-SIZE: 12pt; MARGIN: 0pt; LINE-HEIGHT: 14pt"
align=center>June 30, 2009</P></TD>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=133>
<P style="FONT-SIZE: 12pt; MARGIN: 0pt; LINE-HEIGHT: 14pt"
align=center>March 31, 2009</P></TD></TR>
<TR>
<TD vAlign=bottom width=286>
<P
style="MARGIN-TOP: 5pt; PADDING-LEFT: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; TEXT-INDENT: -12pt; LINE-HEIGHT: 14pt"><B>Amortizable
asset management contracts</B></P></TD>
<TD vAlign=bottom width=137>
<P style="FONT-SIZE: 12pt; MARGIN: 0pt; LINE-HEIGHT: 2pt"
align=right> </P></TD>
<TD vAlign=bottom width=133>
<P
style="PADDING-RIGHT: 23.05pt; FONT-SIZE: 12pt; MARGIN: 0pt; LINE-HEIGHT: 2pt"
align=right> </P></TD></TR>
<TR>
<TD vAlign=bottom width=286>
<P
style="PADDING-RIGHT: 23.05pt; MARGIN-TOP: 5pt; PADDING-LEFT: 24pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; TEXT-INDENT: -12pt; LINE-HEIGHT: 14pt">Cost</P></TD>
<TD vAlign=bottom width=137>
<P
style="PADDING-RIGHT: 28.8pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>$ 210,851</P></TD>
<TD vAlign=bottom width=133>
<P
style="PADDING-RIGHT: 7.2pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>$ 208,416</P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=286>
<P
style="MARGIN-TOP: 5pt; PADDING-LEFT: 24pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; TEXT-INDENT: -12pt; LINE-HEIGHT: 14pt">Accumulated
amortization</P></TD>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=137>
<P
style="PADDING-RIGHT: 25.2pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>(115,475)</P></TD>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=133>
<P
style="PADDING-RIGHT: 3.6pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>(108,376)</P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=286>
<P
style="MARGIN-TOP: 5pt; PADDING-LEFT: 36pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; TEXT-INDENT: -12pt; LINE-HEIGHT: 14pt">Net</P></TD>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=137>
<P
style="PADDING-RIGHT: 28.8pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>95,376</P></TD>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=133>
<P
style="PADDING-RIGHT: 7.2pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>100,040</P></TD></TR>
<TR>
<TD vAlign=bottom width=286>
<P
style="MARGIN-TOP: 5pt; PADDING-LEFT: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; TEXT-INDENT: -12pt; LINE-HEIGHT: 14pt"><B>Indefinite–life
intangible assets</B></P></TD>
<TD vAlign=bottom width=137>
<P
style="PADDING-RIGHT: 28.8pt; FONT-SIZE: 12pt; MARGIN: 0pt; LINE-HEIGHT: 2pt"
align=right> </P></TD>
<TD vAlign=bottom width=133>
<P
style="PADDING-RIGHT: 7.2pt; FONT-SIZE: 12pt; MARGIN: 0pt; LINE-HEIGHT: 2pt"
align=right> </P></TD></TR>
<TR>
<TD vAlign=bottom width=286>
<P
style="PADDING-RIGHT: 23.05pt; MARGIN-TOP: 5pt; PADDING-LEFT: 24pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; TEXT-INDENT: -12pt; LINE-HEIGHT: 14pt">Fund
management contracts</P></TD>
<TD vAlign=bottom width=137>
<P
style="PADDING-RIGHT: 28.8pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>3,753,817</P></TD>
<TD vAlign=bottom width=133>
<P
style="PADDING-RIGHT: 7.2pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>3,752,961</P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=286>
<P
style="MARGIN-TOP: 5pt; PADDING-LEFT: 24pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; TEXT-INDENT: -12pt; LINE-HEIGHT: 14pt">Trade
names</P></TD>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=137>
<P
style="PADDING-RIGHT: 28.8pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>69,800</P></TD>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=133>
<P
style="PADDING-RIGHT: 7.2pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>69,800</P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=286>
<P style="FONT-SIZE: 2pt"> </P></TD>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=137>
<P
style="PADDING-RIGHT: 28.8pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>3,823,617</P></TD>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=133>
<P
style="PADDING-RIGHT: 7.2pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>3,822,761</P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=286>
<P
style="MARGIN-TOP: 5pt; PADDING-LEFT: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; TEXT-INDENT: -12pt; LINE-HEIGHT: 14pt">Intangible
assets, net</P></TD>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=137>
<P
style="PADDING-RIGHT: 28.8pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>$ 3,918,993</P></TD>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=133>
<P
style="PADDING-RIGHT: 7.2pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>$ 3,922,801</P></TD></TR></TBODY></TABLE>
<P style="FONT-SIZE: 12pt; MARGIN: 0pt; LINE-HEIGHT: 14pt"
align=justify> </P>
<P style="FONT-SIZE: 12pt; MARGIN: 0pt; LINE-HEIGHT: 14pt" align=justify>As of
June 30, 2009, management contracts are being amortized over a weighted-average
life of 4.9 years. Estimated amortization expense for each of the next five
fiscal years is as follows: </P>
<P style="FONT-SIZE: 12pt; MARGIN: 0pt"> </P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0 align=center>
<TBODY>
<TR>
<TD width=175></TD>
<TD width=69></TD></TR>
<TR>
<TD vAlign=top width=234>
<P
style="MARGIN-TOP: 5pt; PADDING-LEFT: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; TEXT-INDENT: -12pt; LINE-HEIGHT: 14pt">Remaining
2010</P></TD>
<TD vAlign=bottom width=92>
<P
style="PADDING-RIGHT: 3.6pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>$ 17,041</P></TD></TR>
<TR>
<TD vAlign=top width=234>
<P
style="MARGIN-TOP: 5pt; PADDING-LEFT: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; TEXT-INDENT: -12pt; LINE-HEIGHT: 14pt">2011</P></TD>
<TD vAlign=bottom width=92>
<P
style="PADDING-RIGHT: 3.6pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>22,646</P></TD></TR>
<TR>
<TD vAlign=top width=234>
<P
style="MARGIN-TOP: 5pt; PADDING-LEFT: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; TEXT-INDENT: -12pt; LINE-HEIGHT: 14pt">2012</P></TD>
<TD vAlign=bottom width=92>
<P
style="PADDING-RIGHT: 3.6pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>19,661</P></TD></TR>
<TR>
<TD vAlign=top width=234>
<P
style="MARGIN-TOP: 5pt; PADDING-LEFT: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; TEXT-INDENT: -12pt; LINE-HEIGHT: 14pt">2013</P></TD>
<TD vAlign=bottom width=92>
<P
style="PADDING-RIGHT: 3.6pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>14,660</P></TD></TR>
<TR>
<TD vAlign=top width=234>
<P
style="MARGIN-TOP: 5pt; PADDING-LEFT: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; TEXT-INDENT: -12pt; LINE-HEIGHT: 14pt">2014</P></TD>
<TD vAlign=bottom width=92>
<P
style="PADDING-RIGHT: 3.6pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>12,455</P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=top width=234>
<P
style="MARGIN-TOP: 5pt; PADDING-LEFT: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; TEXT-INDENT: -12pt; LINE-HEIGHT: 14pt">Thereafter</P></TD>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=92>
<P
style="PADDING-RIGHT: 3.6pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>8,913</P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=top width=234>
<P
style="MARGIN-TOP: 5pt; PADDING-LEFT: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; TEXT-INDENT: -12pt; LINE-HEIGHT: 14pt">Total</P></TD>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=92>
<P
style="PADDING-RIGHT: 3.6pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>$ 95,376</P></TD></TR></TBODY></TABLE>
<P style="MARGIN: 0pt"><BR></P>
<P style="MARGIN: 0pt"><BR>The increase in the carrying value of goodwill for
the three months ended June 30, 2009 is summarized below: </P>
<P style="FONT-SIZE: 12pt; MARGIN: 0pt"> </P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0 align=center>
<TBODY>
<TR>
<TD width=275></TD>
<TD width=107></TD></TR>
<TR>
<TD vAlign=bottom width=367>
<P
style="MARGIN-TOP: 5pt; PADDING-LEFT: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; TEXT-INDENT: -12pt; LINE-HEIGHT: 14pt">Balance,
beginning of period</P></TD>
<TD vAlign=bottom width=143>
<P
style="PADDING-RIGHT: 7.2pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>$ 1,186,747</P></TD></TR>
<TR>
<TD vAlign=bottom width=367>
<P
style="MARGIN-TOP: 5pt; PADDING-LEFT: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; TEXT-INDENT: -12pt; LINE-HEIGHT: 14pt">Impact
of excess tax basis amortization</P></TD>
<TD vAlign=bottom width=143>
<P
style="PADDING-RIGHT: 3.6pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>(5,456)</P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=367>
<P
style="MARGIN-TOP: 5pt; PADDING-LEFT: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; TEXT-INDENT: -12pt; LINE-HEIGHT: 14pt">Other,
including changes in foreign exchange rates</P></TD>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=143>
<P
style="PADDING-RIGHT: 7.2pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>26,288</P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=367>
<P
style="MARGIN-TOP: 5pt; PADDING-LEFT: 12pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; TEXT-INDENT: -12pt; LINE-HEIGHT: 14pt">Balance,
end of period</P></TD>
<TD style="BORDER-BOTTOM: #000000 0.75pt solid" vAlign=bottom width=143>
<P
style="PADDING-RIGHT: 7.2pt; MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; LINE-HEIGHT: 14pt"
align=right>$ 1,207,579</P></TD></TR></TBODY></TABLE>
<P style="MARGIN: 0pt" align=justify><BR></P></BODY></HTML>
5. Intangible Assets and Goodwill
The
following tables reflect the components of intangible assets as of:
false
false
|
No definition available.
No authoritative reference available.
false
false
1
2
false
UnKnown
UnKnown
UnKnown
false
true