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Derivatives and Hedging (Tables)
 12 Months Ended
Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

Schedule of Derivative Assets at Fair Value [Table Text Block]
The following table presents the derivative assets and related offsets, if any:
 
 
 
 
 
 
 
 
Gross Amounts Not Offset in the Balance Sheet
 
 
 
 
Gross Amounts of Recognized Assets
 
 Gross Amounts Offset in the Balance Sheet
 
Net Amount of Derivative Assets Presented in the Balance Sheet
 
Financial Instruments
 
Cash Collateral
 
Net amount
 as of
March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative instruments not designated as hedging instruments
 
 
 
 
 
 
Currency forward contracts
 
$
7,997

 
$
(3,177
)
 
$
4,820

 
$
—

 
$
—

 
$
4,820

Total return swaps
 
—

 
—

 
—

 
84

 
1,283

 
1,367

Total derivative instruments not designated as hedging instruments
 
$
7,997

 
$
(3,177
)
 
$
4,820

 
$
84

 
$
1,283

 
$
6,187

The following table presents the derivative assets and related offsets, if any:
 
 
 
 
 
 
 
 
Gross Amounts Not Offset in the Balance Sheet
 
 
 
 
Gross Amounts of Recognized Assets
 
 Gross Amounts Offset in the Balance Sheet
 
Net Amount of Derivative Assets Presented in the Balance Sheet
 
Financial Instruments
 
Cash Collateral
 
Net Amount as of
March 31, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative instruments not designated as hedging instruments
 
 
 
 
 
 
Currency forward contracts
 
$
3,997

 
$
(1,874
)
 
$
2,123

 
$
—

 
$
—

 
$
2,123

Total return swaps
 
—

 
—

 
—

 
2,060

 
2,310

 
4,370

Total derivative instruments not designated as hedging instruments
 
$
3,997


$
(1,874
)

$
2,123


$
2,060


$
2,310


$
6,493
Schedule of Derivative Liabilities at Fair Value [Table Text Block]
The following table presents the derivative liabilities and related offsets, if any:
 
 
 
 
 
 
 
 
Gross Amounts Not Offset in the Balance Sheet
 
 
 
 
Gross Amounts of Recognized Liabilities
 
 Gross Amounts Offset in the Balance Sheet
 
Net Amount of Derivative Liabilities Presented in the Balance Sheet
 
Financial Instruments
 
Cash Collateral
 
Net Amount as of
March 31, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative instruments not designated as hedging instruments
 
 
 
 
 
 
Currency forward contracts
 
$
(7,465
)
 
$
2,094

 
$
(5,371
)
 
$
—

 
$
—

 
$
(5,371
)
Futures contracts relating to:
 
 
 
 
 
 
 
 
 
 
Seed capital investments
 
—

 
—

 
—

 
(1,798
)
 
7,640

 
5,842

Total return swaps
 
—

 
—

 
—

 
(410
)
 
1,104

 
694

     Total future contracts
 
—

 
—

 
—

—

(2,208
)

8,744

 
6,536

Total derivative instruments not designated as hedging instruments
 
$
(7,465
)
 
$
2,094

 
$
(5,371
)
 
$
(2,208
)
 
$
8,744

 
$
1,165

The following table presents the derivative liabilities and related offsets, if any:
 
 
 
 
 
 
 
 
Gross Amounts Not Offset in the Balance Sheet
 
 
 
 
Gross Amounts of Recognized Liabilities
 
 Gross Amounts Offset in the Balance Sheet
 
Net Amount of Derivative Liabilities Presented in the Balance Sheet
 
Financial Instruments
 
Cash Collateral
 
Net amount
as of
March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative instruments not designated as hedging instruments
 
 
 
 
 
 
Currency forward contracts
 
$
(532
)
 
$
223

 
$
(309
)
 
$
—

 
$
—

 
$
(309
)
Futures contracts relating to:
 
 
 
 
 
 
 
 
 
 
 
 
Seed capital investments
 
—

 
—

 
—

 
(2,875
)
 
9,214

 
6,339

Total return swaps
 
—

 
—

 
—

 
(1,029
)
 
3,201

 
2,172

Total futures contracts
 
—

 
—

 
—

 
(3,904
)
 
12,415

 
8,511

Total return swaps
 
—

 
—

 
—

 
(2,233
)
 
5,637

 
3,404

Total derivative instruments not designated as hedging instruments
 
$
(532
)
 
$
223

 
$
(309
)
 
$
(6,137
)
 
$
18,052

 
$
11,606
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The following table presents gains (losses) recognized in the Consolidated Statements of Income (Loss) on derivative instruments. As described above, the currency forward contracts and futures and forward contracts for seed capital investments included below are economic hedges of interest rate and market risk of certain operating and investing activities of Legg Mason.
 
 
 
 
Years Ended March 31,
 
 
 
 
2019
 
2018
 
2017
 
 
Income Statement Classification
 
Gains
 
Losses
 
Gains
 
Losses
 
Gains
 
Losses
Derivatives not designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
Currency forward contracts relating to:
 
 
 
 
 
 
 
 
 
 
 
 
Operating activities
 
Other expense
 
$
8,881

 
$
(17,270
)
 
$
13,880

 
$
(6,774
)
 
$
14,524

 
$
(13,098
)
Seed capital investments
 
Other non-operating income (expense)
 
4,904

 
(930
)
 
494

 
(2,459
)
 
2,681

 
(2,443
)
Futures contracts relating to:
 
 
 
 
 
 
 
 
 
 
 
 
Seed capital investments
 
Other non-operating income (expense)
 
17,648

 
(18,416
)
 
222

 
(24,025
)
 
2,103

 
(18,602
)
Total return swaps
 
Other non-operating income (expense)
 
3,116

 
(5,615
)
 
90

 
(8,721
)
 
—

 
—

Total return swaps
 
Other non-operating income (expense)
 
4,316

 
—

 
2,247

 
(1,142
)
 
—

 
—

Total gain (loss) from derivatives not designated as hedging instruments
 
38,865

 
(42,231
)
 
16,933

 
(43,121
)

19,308


(34,143
)
Derivative designated as a cash flow hedge (see Note 6)
 
 
 
 
 
 
 
 
 
 
Interest rate swap (termination)
 
Other non-operating income (expense)
 
—

 
—

 
—

 
—

 
—

 
(3,662
)
Interest rate swap
 
Interest expense
 
—

 
—

 
—

 
—

 
—

 
(764
)
Total
 
 
 
$
38,865


$
(42,231
)

$
16,933


$
(43,121
)

$
19,308


$
(38,569
)