Consolidated Statements of Cash Flows (Consolidated Legg Mason, Inc., USD $) In Thousands, unless otherwise specified	3 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Consolidated Legg Mason, Inc.
Cash Flows from Operating Activities
Net Income (Loss)	$ (12,984)	$ 61,698
2.5% Convertible Senior Notes:
Allocation of repurchase payment	(216,038)	0
Loss on extinguishment	68,975	0
Adjustments to reconcile Net Income (Loss) to net cash provided by operations:
Depreciation and amortization	17,079	22,879
Imputed interest for 2.5% Convertible Senior Notes	5,839	9,489
Accretion and amortization of securities discounts and premiums, net	1,101	1,147
Stock-based compensation	12,734	12,431
Net losses on investments	4,628	177
Net losses (gains) of consolidated investment vehicles	4,913	(3,538)
Deferred income taxes	(8,659)	4,067
Other	549	533
Decrease (increase) in assets:
Investment advisory and related fees receivable	22,142	15,763
Net sales of trading and other current investments	67,202	20,635
Other receivables	5,033	(6,993)
Other assets	155	7,713
Increase (decrease) in liabilities:
Accrued compensation	(223,135)	(115,161)
Deferred compensation	(15,559)	(25,786)
Accounts payable and accrued expenses	(260)	106
Other liabilities	(20,690)	22,694
Net increase (decrese) in operating assets and liabilities of consolidated investment vehicles, including cash	7,435	(103,751)
Cash Provided by Operating Activities	(279,540)	(75,897)
Cash Flows From Investing Activities
Payments for fixed assets	(7,461)	(8,133)
Restricted cash	(408)	1,617
Purchases of investment securities	(2,225)	(1,630)
Proceeds from sales and maturities of investment securities	1,961	1,723
Purchases of investments by consolidated investment vehicles	(59,877)	(56,831)
Proceeds from sales and maturities of investments by consolidated investment vehicles	55,387	71,357
Cash Provided by (Used In) Investing Activities	(12,623)	8,103
Cash Flows From Financing Activities
Repayment of short-term borrowings	(250,000)	0
Repayment of 2.5% Convertible Senior Notes, net of operating allocation	(1,040,212)	0
Repayment of long-term debt	(425)	(195)
Proceeds from Issuance of Long-term Debt	1,143,246	0
Debt Issuance Cost	(8,498)	0
Issuance of common stock	729	1,133
Repurchase of common stock	(162,642)	(200,119)
Dividends paid	(11,178)	(9,144)
Net repayments of consolidated investment vehicles	0	82,727
Net (redemptions/distributions paid to)/subscriptions received from noncontrolling interest holders	(1,868)	7,388
Cash Used In Financing Activities	(330,848)	(118,210)
Effect of Exchange Rate on Cash and Cash Equivalents	(1,368)	6,105
Net Increase (Decrease) in Cash and Cash Equivalents	(624,379)	(179,899)
Cash and Cash Equivalents at Beginning of Year	1,382,263	1,375,918
Cash and Cash Equivalents at End of Year	$ 757,884	$ 1,196,019