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Earnings Per Share (Tables)
 9 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
 
 
Three Months Ended December 31,
 
Nine Months Ended December 31,
 
 
2015
 
2014
 
2015
 
2014
Basic weighted-average shares outstanding for EPS
 
106,432

 
111,345

 
107,741

 
112,712

Potential common shares:
 
 
 
 
 
 
 
 
Dilutive employee stock options
 
—

 
1,253

 
992

 
1,169

Diluted weighted-average shares outstanding for EPS
 
106,432

 
112,598

 
108,733

 
113,881

 
 
 
 
 
 
 
 
 
Net Income (Loss) Attributable to Legg Mason, Inc.
 
$
(138,626
)
 
$
77,036

 
$
20,241

 
$
154,121

Less: Earnings (distributed and undistributed) allocated to participating securities
 
565

 
2,078

 
1,675

 
4,112

Net Income (Loss) (Distributed and Undistributed) Allocated to Shareholders (Excluding Participating Securities)
 
$
(139,191
)
 
$
74,958

 
$
18,566

 
$
150,009

 
 
 
 
 
 
 
 
 
Net Income (Loss) per share Attributable to Legg Mason, Inc. Shareholders
 
 
 
 
 
 
 
 
Basic
 
$
(1.31
)
 
$
0.67

 
$
0.17

 
$
1.33

Diluted
 
$
(1.31
)
 
$
0.67

 
$
0.17

 
$
1.32