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Variable Interest Entities and Consolidation of Investment Vehicles Investments of VIE's (Tables)
 12 Months Ended
Mar. 31, 2019
Consolidated Investment Vehicles [Member]  
Schedule of Investments [Line Items]  
Investment Holdings, Schedule of Investments [Table Text Block]
Because it was determined to be the primary beneficiary of these VIEs, Legg Mason consolidated and designated the following funds as CIVs in the Consolidated Balance Sheets as of:
 
March 31,
 
2019
 
2018
 
2017
 
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
 
$
11,671

 
2
 
$
16,670

 
2
 
$
16,424

Foreign mutual funds
7
 
23,005

 
4
 
12,485

 
3
 
7,964

Employee-owned funds
2
 
6,215

 
2
 
7,328

 
1
 
3,912

ETFs(2)
3
 
2,821

 
2
 
7,371

 
n/a
 
—

Total
 
 
$
43,712

 
 
 
$
43,854

 
 
 
$
28,300

(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 investments in three of Legg Mason's ETFs with notional amounts totaling $61,230 as of March 31, 2019. See Note 16 for additional information regarding total return swaps.