Consolidated Statements of Income (Loss) (Consolidated Legg Mason, Inc., USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Consolidated Legg Mason, Inc.
Investment advisory fees
Separate accounts	$ 182,436	$ 204,793
Funds	356,474	400,144
Performance fees	8,566	18,614
Distribution and service fees	81,623	92,064
Other	1,593	1,493
Total operating revenues	630,692	717,108
Operating Expenses
Compensation and benefits	270,262	300,352
Transition-related compensation	0	11,395
Total compensation and benefits	270,262	311,747
Distribution and servicing	169,825	180,756
Communications and technology	37,630	40,501
Occupancy	30,252	33,238
Amortization of intangible assets	3,505	5,578
Other	43,141	44,922
Total operating expenses	554,615	616,742
Operating Income	76,077	100,366
Other Non-Operating Income (Expense)
Interest income	1,936	3,055
Interest expense	(19,227)	(22,361)
Other income (expense), net, including $68,975 debt extinguishment loss in 2012	(72,633)	3,403
Other non-operating income (expense) of consolidated investment vehicles, net	(4,134)	5,102
Total other non-operating income (expense)	(94,058)	(10,801)
Income (loss) before income tax provision (benefit)	(17,981)	89,565
Income tax provision (benefit)	(4,997)	27,867
Net Income (Loss)	(12,984)	61,698
Less: Net income (loss) attributable to noncontrolling interests	(3,526)	1,746
Net income (loss) attributable to Legg Mason, Inc.	$ (9,458)	$ 59,952
Net Income (Loss) per Share Attributable to Legg Mason, Inc. Common Shareholders:
Basic (in dollars per share)	$ (0.07)	$ 0.40
Diluted (in dollars per share)	$ (0.07)	$ 0.40
Weighted Average Number of Shares Outstanding, Basic	138,720	149,210
Weighted Average Number of Shares Outstanding, Diluted	138,720	149,347
Dividends Declared per Share (in dollars per share)	$ 0.11	$ 0.08