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Earnings Per Share (Tables)
 12 Months Ended
Mar. 31, 2017
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
 
 
Years Ended March 31,
 
 
2017
 
2016
 
2015
Basic weighted-average shares outstanding for EPS
 
100,580

 
107,406

 
112,019

Potential common shares:
 
 
 
 
 
 
Dilutive employee stock options
 
219

 
—

 
1,227

Diluted weighted-average shares outstanding for EPS
 
100,799

 
107,406

 
113,246

 
 
 
 
 
 
 
Net Income (Loss) Attributable to Legg Mason, Inc.
 
$
227,256

 
$
(25,032
)
 
$
237,080

Less: Earnings (distributed and undistributed) allocated to participating securities
 
7,384

 
2,288

 
6,340

Net Income (Loss) (Distributed and Undistributed) Allocated to Shareholders (Excluding Participating Securities)
 
$
219,872

 
$
(27,320
)
 
$
230,740

 
 
 
 
 
 
 
Net Income (Loss) per share Attributable to Legg Mason, Inc. Shareholders
 
 
 
 
 
 
Basic
 
$
2.19

 
$
(0.25
)
 
$
2.06

Diluted
 
$
2.18

 
$
(0.25
)
 
$
2.04