XML 31 R8.htm IDEA: XBRL DOCUMENT v2.3.0.15
CONSOLIDATED STATEMENTS OF CASH FLOWS (Consolidated Legg Mason Group [Member], USD $)
In Thousands
6 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Consolidated Legg Mason Group [Member]
  
Cash Flows from Operating Activities  
Net Income$ 119,081$ 121,631
Adjustments to reconcile Net Income to net cash provided by operations:  
Depreciation and amortization45,04552,498
Imputed Interest for 2.5% convertible senior notes19,23018,055
Accretion and amortization of securities discounts and premiums, net2,3812,372
Stock-based compensation25,94825,230
Net losses (gains) on investments37,846(22,454)
Net losses of consolidated investment vehicles2,1981,996
Deferred income taxes17,70142,062
Other9011,424
Decrease (increase) in assets:  
Investment advisory and related fees receivable40,2187,112
Net purchases of trading investments(44,822)(33,260)
Other receivables(3,605)(6,802)
Other assets14,4192,783
Increase (decrease) in liabilities:  
Accrued compensation(73,968)1,260
Deferred compensation(32,134)(18,702)
Accounts payable and accrued expenses(18,370)(251)
Other liabilities9,186(52,161)
Net increase in operating assets and liabilities of consolidated investment vehicles, including cash6,91418,838
Cash Provided by Operating Activities168,169161,631
Cash Flows Provided by (Used for) Investing Activities  
Payments for fixed assets(14,577)(11,673)
Restricted cash7,7050
Purchases of investment securities(3,754)(3,541)
Proceeds from sales and maturities of investment securities3,5902,682
Purchases of investments by consolidated investment vehicles(113,668)(65,398)
Proceeds from sales and maturities of investments by consolidated investment vehicles123,76567,006
Cash Provided by (Used for) Investing Activities3,061(10,924)
Cash Flows Used for Financing Activities  
Third-party distribution financing, net0(1,639)
Repayment of principal on long-term debt(391)(2,588)
Repurchases of common stock(400,266)(336,401)
Issuance of common stock1,4539,356
Dividends paid(21,029)(11,467)
Net (repayments) borrowings of consolidated investment vehicles(18,309)4,865
Net subscriptions received from noncontrolling interest holders649438
Cash Used for Financing Activities(437,893)(337,436)
Effect of Exchange Rate Changes on Cash(15,611)4,740
Net Decrease in Cash and Cash Equivalents(282,274)(181,989)
Cash and Cash Equivalents at Beginning of Period1,375,9181,465,888
Cash and Cash Equivalents at End of Period$ 1,093,644$ 1,283,899