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Quarterly Financial Data (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended
May 21, 2013
Mar. 31, 2013
Quarterly Financial Data
Dec. 31, 2012
Quarterly Financial Data
Sep. 30, 2012
Quarterly Financial Data
Jun. 30, 2012
Quarterly Financial Data
Mar. 31, 2012
Quarterly Financial Data
Dec. 31, 2011
Quarterly Financial Data
Sep. 30, 2011
Quarterly Financial Data
Jun. 30, 2011
Quarterly Financial Data
Operating Revenues   $ 667,763 $ 673,900 $ 640,295 $ 630,692 $ 648,591 $ 626,978 $ 669,897 $ 717,108
Operating Expenses   624,750 1,307,223 560,561 554,615 576,379 567,655 563,045 616,742
Operating Income   43,013 (633,323) 79,734 76,077 72,212 59,323 106,852 100,366
Other Non-operating Income (Expense)   5,633 (5,441) 17,758 (94,058) 37,781 (11,575) (51,075) (10,801)
Income before Income Tax Provision (Benefit)   48,646 (638,764) 97,492 (17,981) 109,993 47,748 55,777 89,565
Income tax provision (benefit)   17,955 (180,214) 16,397 (4,997) 33,184 12,607 (1,606) 27,867
Net Income (Loss)   30,691 (458,550) 81,095 (12,984) 76,809 35,141 57,383 61,698
Less: Net income (loss) attributable to noncontrolling interests   1,487 (4,680) 298 (3,526) 740 7,009 719 1,746
Net income (loss) attributable to Legg Mason, Inc.   29,204 (453,870) 80,797 (9,458) 76,069 28,132 56,664 59,952
Net Income per Share attributable to Legg Mason, Inc. common shareholders:                  
Basic (in dollars per share)   $ 0.23 $ (3.45) $ 0.60 $ (0.07) $ 0.54 $ 0.20 $ 0.39 $ 0.40
Diluted (in dollars per share)   $ 0.23 $ (3.45) $ 0.60 $ (0.07) $ 0.54 $ 0.20 $ 0.39 $ 0.40
Cash dividend per share (in dollars per share)   $ 0.11 $ 0.11 $ 0.11 $ 0.11 $ 0.08 $ 0.08 $ 0.08 $ 0.08
Stock price range:                  
High (in dollars per share)   $ 32.59 $ 26.63 $ 27.14 $ 28.47 $ 29.49 $ 29.56 $ 34.32 $ 37.82
Low (in dollars per share)   $ 25.43 $ 23.88 $ 23.31 $ 22.36 $ 23.75 $ 22.61 $ 24.11 $ 30.86
Assets Under Management:                  
End of period   664,609 648,879 650,700 631,823 643,318 626,960 611,794 662,533
Average   $ 657,357 $ 648,354 $ 639,389 $ 635,463 $ 634,916 $ 622,004 $ 643,296 $ 670,761
Closing price of common stock (in dollars per share) $ 36.13