Consolidated Statements of Cash Flows (Consolidated Legg Mason, Inc., USD $) In Thousands, unless otherwise specified	12 Months Ended
	Mar. 31, 2012	Mar. 31, 2011	Mar. 31, 2010
Consolidated Legg Mason, Inc.
Cash Flows from Operating Activities
Net Income	$ 231,031	$ 245,763	$ 210,980
Loss on Equity Units exchange	0	0	22,040
Adjustments to reconcile Net Income to net cash provided by operations:
Depreciation and amortization	93,795	102,748	114,078
Imputed Interest for 2.5% convertible senior notes	39,077	36,688	34,445
Accretion and amortization of securities discounts and premiums, net	4,552	4,539	13,387
Stock-based compensation	48,735	56,245	46,578
Net losses (gains) on investments	(1,714)	(58,851)	(103,457)
Net losses (gains) of consolidated investment vehicles	(6,711)	3,959	(17,359)
Unrealized gains on fund support	0	0	(22,115)
Deferred income taxes	49,192	80,272	113,947
Other	(12,191)	5,393	2,808
Decrease (increase) in assets:
Investment advisory and related fees receivable	31,790	(13,794)	(53,402)
Net (purchases) sales of trading and other current investments	(40,020)	(55,540)	52,288
Refundable income taxes	0	0	992,548
Other receivables	1,432	1,962	177,667
Other assets	1,810	(20,923)	(50,082)
Increase (decrease) in liabilities:
Accrued compensation	42,763	75,970	(89,800)
Deferred compensation	(35,148)	(44,825)	32,197
Accounts payable and accrued expenses	(11,147)	(251)	2,686
Other liabilities	28,135	(49,954)	(86,484)
Net increase in operating assets and liabilities of consolidated investment vehicles, including cash	31,388	42,739	20,213
Cash Provided by Operating Activities	496,769	412,140	1,413,163
Cash Flows From Investing Activities
Payments for fixed assets	(31,822)	(32,904)	(84,117)
Payments for business acquisitions-related costs	0	0	(11,092)
Contractual acquisition earnout payments	0	0	(179,804)
Proceeds from sale of assets	3,060	0	150
Fund support	0	0	38,890
Restricted cash	11,221	0	0
Purchases of investment securities	(6,493)	(8,430)	(55,507)
Proceeds from sales and maturities of investment securities	6,197	9,077	14,792
Purchases of investments by consolidated investment vehicles	(141,727)	(173,261)	0
Proceeds from sales and maturities of investments by consolidated investment vehicles	161,894	161,047	0
Cash Provided by (Used In) Investing Activities	2,330	(44,471)	(276,688)
Cash Flows From Financing Activities
Debt issue costs	0	0	(3,056)
Third-party distribution financing, net	0	(1,639)	(2,428)
Repayment of principal on long-term debt	(1,014)	(3,515)	(554,913)
Payment on Equity Units exchange	0	0	(135,015)
Issuance of common stock	4,538	14,440	4,999
Repurchase of common stock	(401,797)	(445,465)	0
Dividends paid	(43,602)	(26,813)	(48,241)
Net (repayments) borrowings of consolidated investment vehicles	(18,309)	(7,025)	0
Net (redemptions/distributions paid to)/subscriptions received from noncontrolling interest holders	(21,596)	1,551	(8,066)
Cash Used In Financing Activities	(481,780)	(468,466)	(746,720)
Effect of Exchange Rate Changes on Cash	(10,974)	10,827	19,481
Net Increase (Decrease) in Cash and Cash Equivalents	6,345	(89,970)	409,236
Cash and Cash Equivalents at Beginning of Year	1,375,918	1,465,888	1,056,652
Cash and Cash Equivalents at End of Year	1,382,263	1,375,918	1,465,888
Income taxes, net of (refunds) payments of ($12,034), ($12,090) and $60,747, respectively	24,552	39,524	(994,823)
Interest	$ 41,039	$ 46,620	$ 73,909