Consolidated Statements of Income (Loss) (Consolidated Legg Mason, USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Mar. 31, 2011
Consolidated Legg Mason
Investment advisory fees
Separate accounts	$ 730,326	$ 775,534	$ 815,633
Funds	1,446,066	1,491,325	1,486,615
Performance fees	98,568	49,499	96,661
Distribution and service fees	330,480	340,966	379,161
Other	7,210	5,250	6,247
Total operating revenues	2,612,650	2,662,574	2,784,317
Operating Expenses
Compensation and benefits	1,188,470	1,109,671	1,140,305
Transition-related compensation	0	34,638	45,048
Total compensation and benefits	1,188,470	1,144,309	1,185,353
Distribution and servicing	600,644	649,739	712,839
Communications and technology	149,645	164,712	161,969
Occupancy	171,941	154,816	137,861
Amortization of intangible assets	14,019	19,574	22,913
Impairment of intangible assets	734,000	0	0
Other	188,430	190,671	176,574
Total operating expenses	3,047,149	2,323,821	2,397,509
Operating Income (Loss)	(434,499)	338,753	386,808
Other Non-Operating Income (Expense)
Interest income	7,590	11,481	9,246
Interest expense	(62,919)	(87,584)	(92,157)
Other income (expense), net, including $68,975 debt extinguishment loss in May 2012	(17,958)	22,097	59,596
Other non-operating income (loss) of consolidated investment vehicles, net	(2,821)	18,336	1,704
Total other non-operating income (expense)	(76,108)	(35,670)	(21,611)
Income (loss) before income tax provision (benefit)	(510,607)	303,083	365,197
Income tax provision (benefit)	(150,859)	72,052	119,434
Net Income (Loss)	(359,748)	231,031	245,763
Less: Net income (loss) attributable to noncontrolling interests	(6,421)	10,214	(8,160)
Net Income (Loss) Attributable to Legg Mason, Inc.	$ (353,327)	$ 220,817	$ 253,923
Net Income (Loss) per Share Attributable to Legg Mason, Inc. Common Shareholders:
Basic (in dollars per share)	$ (2.65)	$ 1.54	$ 1.63
Diluted (in dollars per share)	$ (2.65)	$ 1.54	$ 1.63