Fair Values of Assets and Liabilities (Tables) - Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]
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12 Months Ended |
Mar. 31, 2019 |
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| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |
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| Fair Value, Assets Measured on Recurring Basis [Table Text Block] |
The fair values of financial assets and (liabilities) of the Company were determined using the following categories of inputs: | | | | | | | | | | | | | | | | | | | | | | | | As of March 31, 2019 | | | Quoted prices in active markets
(Level 1) | | Significant other observable inputs
(Level 2) | | Significant unobservable inputs
(Level 3) | | Investments measured at NAV | | Total | Assets: | | | | | | | | | | | Cash equivalents(1) | | $ | 556,231 |
| | $ | 20,160 |
| | — |
| | $ | — |
| | $ | 576,391 |
| Equity investments:(2) | | | | | | | | | | | Seed capital investments | | 98,276 |
| | 30,601 |
| | 1,455 |
| | 2,183 |
| | 132,515 |
| Investments related to long-term incentive plans | | 211,802 |
| | — |
| | — |
| | — |
| | 211,802 |
| Other investments | | 19,486 |
| | 2,142 |
| | — |
| | — |
| | 21,628 |
| Equity method investments:(3) | | | | | | | | | |
|
| Seed capital investments(4) | | — |
| | — |
| | 40,854 |
| | 10,675 |
| | 51,529 |
| Investments related to long-term incentive plans(2) | | — |
| | — |
| | — |
| | 11,184 |
| | 11,184 |
| Other investments(4) | | — |
| | — |
| | 1,218 |
| | 10,251 |
| | 11,469 |
| Adjusted cost investments(4) | | — |
| | 74 |
| | 12,171 |
| | — |
| | 12,245 |
| Derivative assets(5) | | 4,183 |
| | — |
| | — |
| | — |
| | 4,183 |
| Total | | $ | 889,978 |
| | $ | 52,977 |
| | $ | 55,698 |
| | $ | 34,293 |
| | $ | 1,032,946 |
| Liabilities: | | | | | | | | | | | Contingent consideration liabilities(6) | | $ | — |
| | $ | — |
| | $ | (1,415 | ) | | $ | — |
| | $ | (1,415 | ) | Derivative liabilities(5) | | (7,579 | ) | | — |
| | — |
| | — |
| | (7,579 | ) | Total | | $ | (7,579 | ) | | $ | — |
| | $ | (1,415 | ) | | $ | — |
| | $ | (8,994 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | As of March 31, 2018 | | | Quoted prices in active markets
(Level 1) | | Significant other observable inputs
(Level 2) | | Significant unobservable inputs
(Level 3) | | Investments measured at NAV | | Total | Assets: | | | | | | | | | | | Cash equivalents(1) | | $ | 350,142 |
| | $ | 13,863 |
| | — |
| | $ | — |
| | $ | 364,005 |
| Trading investments:(2) | | | | | | | | | | | Seed capital investments | | 131,715 |
| | 37,598 |
| | 1,242 |
| | 3,225 |
| | 173,780 |
| Investments related to long-term incentive plans | | 184,639 |
| | — |
| | — |
| | 99 |
| | 184,738 |
| Other | | 29,051 |
| | 2,565 |
| | — |
| | — |
| | 31,616 |
| Equity method investments:(3) | | | | | |
|
| |
|
| |
|
| Seed capital investments(4) | | — |
| | — |
| | 33,725 |
| | 14,360 |
| | 48,085 |
| Investments related to long-term incentive plans(2) | | — |
| | — |
| | — |
| | 9,236 |
| | 9,236 |
| Other(4) | | — |
| | — |
| | — |
| | 11,915 |
| | 11,915 |
| Other investments(4) | | — |
| | 78 |
| | 6,951 |
| | 2,549 |
| | 9,578 |
| Derivative assets(5) | | 4,904 |
| | — |
| | — |
| | — |
| | 4,904 |
| Total | | $ | 700,451 |
| | $ | 54,104 |
| | $ | 41,918 |
| | $ | 41,384 |
| | $ | 837,857 |
| Liabilities: | | | | | | | | | | | Contingent consideration liabilities(6) | | $ | — |
| | $ | — |
| | $ | (5,607 | ) | | $ | — |
| | $ | (5,607 | ) | Derivative liabilities(5) | | (6,446 | ) | | — |
| | — |
| | — |
| | (6,446 | ) | Total | | $ | (6,446 | ) | | $ | — |
| | $ | (5,607 | ) | | $ | — |
| | $ | (12,053 | ) |
| | (1) | Cash investments in actively traded money market funds are classified as Level 1. Cash investments in time deposits and other are measured at amortized cost, which approximates fair value because of the short time between purchase of the instrument and its expected realization and are classified as Level 2. |
| | (2) | Included in Investment securities on the Consolidated Balance Sheets. |
| | (3) | Primarily investments in private equity and real estate funds. These equity method investments are investment companies that primarily record underlying investments at fair value. Therefore, the fair value of these investments is measured using Legg Mason's share of the investee's underlying net income or loss, which is predominately representative of fair value adjustments in the investments held by the equity method investee. Other equity method investments not measured at fair value on a recurring basis of $28,160 and $27,660 as of March 31, 2019 and 2018, respectively, are excluded from the tables above. |
| | (4) | Included in Other noncurrent assets in the Consolidated Balance Sheets. |
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| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] |
The changes in financial asset and (liabilities) measured at fair value using significant unobservable inputs (Level 3) are presented in the tables below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Balance as of March 31, 2018 | | Purchases | | Sales | | Redemptions/ Settlements/ Other | | Transfers | | Realized and unrealized gains/(losses), net | | Balance as of March 31, 2019 | Assets: | | | | | | | | | | | | | | | Equity investments - seed capital | | $ | 1,242 |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | 213 |
| | $ | 1,455 |
| Equity method investments: | |
|
| | | |
|
| | | |
|
| |
|
| Seed capital investments | | 33,725 |
| | 9,726 |
| | — |
| | (5,211 | ) | | — |
| | 2,614 |
| | 40,854 |
| Other | | — |
| | 2,150 |
| | — |
| | (985 | ) | | — |
| | 53 |
| | 1,218 |
| Adjusted cost investments | | 6,951 |
| | 5,263 |
| | — |
| | (2 | ) | | — |
| | (41 | ) | | 12,171 |
| | | $ | 41,918 |
| | $ | 17,139 |
| | $ | — |
| | $ | (6,198 | ) | | $ | — |
| | $ | 2,839 |
| | $ | 55,698 |
| Liabilities: | | | | | | | | | | | | | | | Contingent consideration liabilities | | $ | (5,607 | ) | | n/a |
| | n/a |
| | $ | 4,870 |
| | n/a |
| | $ | (678 | ) | | $ | (1,415 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Balance as of March 31, 2017 | | Purchases | | Sales | | Redemptions/ Settlements/ Other | | Transfers | | Realized and unrealized gains/(losses), net | | Balance as of March 31, 2018 | Assets: | | | | | | | | | | | | | | | Trading investments - seed capital | | $ | — |
| | $ | 1,300 |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | (58 | ) | | $ | 1,242 |
| Equity method investments: | | | | | | | | | | | | | Seed capital investments | | 27,661 |
| | 7,714 |
| | — |
| | (4,283 | ) | | — |
| | 2,633 |
| | 33,725 |
| Investments for long-term incentive plans | | 1,337 |
| | 39 |
| | — |
| | (1,469 | ) | | — |
| | 93 |
| | — |
| Other investments | | 12,899 |
| | 52 |
| | — |
| | (3,156 | ) | | — |
| | (2,844 | ) | | 6,951 |
| | | $ | 41,897 |
| | $ | 9,105 |
| | $ | — |
| | $ | (8,908 | ) | | $ | — |
| | $ | (176 | ) | | $ | 41,918 |
| Liabilities: | | | | | | | | | | | | | | | Contingent consideration liabilities | | $ | (36,810 | ) | | $ | (1,900 | ) | | n/a |
| | $ | 3,242 |
| | n/a |
| | $ | 29,861 |
| | $ | (5,607 | ) |
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| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Table Text Block] |
he following table summarizes the nature of these investments and any related liquidation restrictions or other factors which may impact the ultimate value realized: | | | | | | | | | | | | | | | | | | | | | | Fair Value Determined Using NAV | | As of March 31, 2019 | Category of Investment | | Investment Strategy | | March 31, 2019 | | March 31, 2018 | | Unfunded Commitments | | Remaining Term | Funds-of-hedge funds | | Global macro, fixed income, long/short equity, natural resources, systematic, emerging market, European hedge | | $ | 9,910 |
| (1) | $ | 11,122 |
| | n/a |
| | n/a | Hedge funds | | Fixed income - developed market, event driven, fixed income - hedge, relative value arbitrage, European hedge | | 1,515 |
| | 6,479 |
| | $ | 20,000 |
| | n/a | Private equity funds | | Long/short equity | | 11,636 |
| (2) | 14,377 |
| | 5,873 |
| | Up to 10 years | Equity method investments related to long-term incentive plans | | Alternatives, structured securities, short-dated fixed income | | 11,185 |
| (2) | 9,236 |
| | n/a |
| | n/a | Other | | Various | | 47 |
| | 170 |
| | n/a |
| | Various (3) | Total | | | | $ | 34,293 |
| | $ | 41,384 |
| | $ | 25,873 |
| | |
n/a - not applicable | | (1) | Liquidation restrictions: 21% monthly redemption, 1% quarterly redemption, and 78% are not subject to redemption or are not currently redeemable. |
| | (2) | Liquidations are expected over the remaining term. |
| | (3) | Of this balance, 68% has a remaining term of less than one year and 32% has a remaining term of 13 years. |
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