Commitments and Contingencies (Tables)

3 Months Ended

Jun. 30, 2013

Commitments and Contingencies Disclosure [Abstract]

Minimum annual aggregate rentals under operating leases and service agreements



Remaining 2014	$	99,576
2015	123,140
2016	108,120
2017	95,712
2018	86,822
Thereafter	422,362
Total	$	935,732

Lease liability reserve roll forward [Table Text Block]



Balance at March 31, 2012	$	44,763
Accrued charges for vacated space	39,080
Payments, net	(15,341		)
Adjustments and other	(1,590		)
Balance at March 31, 2013	66,912
Accrued charges for vacated space	1,039
Payments, net	(3,740		)
Adjustments and other	(186		)
Balance at June 30, 2013 ⁽¹⁾	$	64,025

(1) Approximately $4,515 of the balance as of June 30, 2013 relates to Legg Mason's business streamlining initiative which was completed in fiscal 2013.

- Definition

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

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