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Variable Interest Entities and Consolidation of Investment Vehicles Investments of VIE's (Tables)
 9 Months Ended
Dec. 31, 2017
Consolidated Investment Vehicles [Member]  
Schedule of Investments [Line Items]  
Investment Holdings, Schedule of Investments [Table Text Block]
 
December 31, 2017
 
March 31, 2017
 
December 31, 2016
 
Number of Consolidated Funds
 
Legg Mason Investment in Funds(1)
 
Number of Consolidated Funds
 
Legg Mason Investment in Funds(1)
 
Number of Consolidated Funds
 
Legg Mason Investment in Funds(1)
Sponsored investment funds
2
 
$
16,537

 
2
 
$
16,424

 
2
 
$
15,807

Foreign mutual funds
3
 
10,114

 
3
 
7,964

 
4
 
12,397

Employee-owned funds
2
 
7,107

 
1
 
3,912

 
1
 
3,575

ETFs(2)
2
 
7,790

 
n/a
 
—

 
n/a
 
—

Total
 
 
$
41,548

 
 
 
$
28,300

 
 
 
$
31,779

n/a - not applicable
(1) Represents Legg Mason's maximum risk of loss, excluding uncollected advisory fees.
(2)
Under the total return swap arrangements, Legg Mason receives the related investment gains and losses on notional amounts totaling $51,066. See Note 12 for additional information regarding total return swaps.