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<font style="font-family: sans-serif; font-size: 9.5pt; font-weight: bold; ">Example </font>
<font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 9.5pt; FONT-WEIGHT: bold">Example</font>
<div style="display:none">~ http://www.troweprice.com/role/ScheduleShareholderFeesTRowePriceNewIncomeFundInc column period compact * ~</div>
2012-06-30
<font style="font-family: serif; font-size: 10pt; ">troweprice.com</font>
450
0.0532
340
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<font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 9.5pt; FONT-WEIGHT: bold">Example</font>
<font style="font-size: 15pt; font-family: Arial;" class="_mt">T. Rowe Price</font><br/><br/><font style="font-size: 24pt; font-family: Arial;" color="#004f7c" class="_mt">New Income Fund–Advisor Class</font><br /><br /><font style="font-family: Times New Roman; color: rgb(0, 79, 124); margin-left; font-size: 18pt; "><b>SUMMARY</b></font>
<font style="font-family: serif; font-size: 10pt; ">The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 157.1% of the average value of its portfolio.</font>
<font style="font-size: 15pt; font-family: Arial;" class="_mt">T. Rowe Price</font><br/><br/><font style="font-size: 24pt; font-family: Arial;" color="#004f7c" class="_mt">New Income Fund</font><br /><br /><font style="font-family: Times New Roman; color: rgb(0, 79, 124); margin-left; font-size: 18pt; "><b>SUMMARY</b></font>
<font style=" FONT-STYLE: italic; FONT-FAMILY: Sans-Serif; COLOR: #004f7c; FONT-SIZE: 8pt;"><b>Fees and Expenses of the Fund</b></font><br/><br/><center><font style=" FONT-STYLE: italic; FONT-FAMILY: Sans-Serif; COLOR: #004f7c; FONT-SIZE: 8pt;"><b>Shareholder fees (fees paid directly from your investment)</b</font></center>
<font style="font-family: serif; font-size: 10pt; ">The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 157.1% of the average value of its portfolio.</font>
0
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<font style="font-size: 15pt; font-family: Arial;" class="_mt">T. Rowe Price</font><br/><br/><font style="font-size: 24pt; font-family: Arial;" color="#004f7c" class="_mt">New Income Fund–R Class</font><br/><br/><font style="font-size: 24pt; font-family: Times new roman;" color="#004f7c" class="_mt"><b>SUMMARY</b></font>
<font style="font-family: serif; font-size: 10pt; ">The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 157.1% of the average value of its portfolio.</font>
<font style="font-family: serif; font-size: 10pt; ">troweprice.com</font>
<font style="font-family: serif; font-size: 10pt; ">troweprice.com</font>
0.0274
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T. Rowe Price New Income Fund, Inc.
<font style="font-family: serif; font-size: 10pt; ">This table describes the fees and expenses that you may pay if you buy and hold shares of the fund.</font>
<font style="font-style: italic; font-family: sans-serif; color: rgb(0, 79, 124); font-size: 8pt; font-weight: bold; ">Fees and Expenses of the Fund’s Advisor Class<br/><br/><center>Annual fund operating expenses<br/>(expenses that you pay each year as a<br/> percentage of the value of your investment)</center></font>
<div> <div class="MetaData"><b><i> </i></b> <div><font class="_mt" style="font-family: Calibri;"> </font> </div> <div> <div style="text-align: center; text-indent: -5.75pt; margin: 1pt 0in 1pt 5.75pt;" align="center"> <div align="left"> <center><table style="width: 195pt; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="260"><tr style="height: 15pt;"> <td style="background-color: transparent; width: 48pt; height: 15pt;" height="20" width="64"> </td> <td style="background-color: transparent; width: 48pt;" width="64"> </td> <td style="background-color: transparent; width: 51pt;" class="xl65" width="68"><em><strong><font class="_mt" style="font-family: Calibri;">Quarter</font></strong></em></td> <td style="background-color: transparent; width: 48pt;" class="xl65" width="64"><em><strong><font class="_mt" style="font-family: Calibri;"> Total</font></strong></em></td></tr> <tr style="height: 15pt;"><td style="background-color: transparent; height: 15pt;" height="20"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl65"><em><strong><font class="_mt" style="font-family: Calibri;"> Ended</font></strong></em></td> <td style="background-color: transparent;" class="xl65"><em><strong><font class="_mt" style="font-family: Calibri;">Return</font></strong></em></td></tr> <tr style="height: 15pt;"><td style="background-color: transparent; height: 15pt;" class="xl66" height="20" colspan="2"><strong><font class="_mt" style="font-family: Calibri;">Best Quarter</font></strong></td> <td style="background-color: transparent;" class="xl67"><strong><font class="_mt" style="font-family: Calibri;">6/30/09</font></strong></td> <td style="background-color: transparent;" class="xl68"><strong><font class="_mt" style="font-family: Calibri;">5.02%</font></strong></td></tr> <tr style="height: 15pt;"><td style="background-color: transparent; height: 15pt;" class="xl66" height="20" colspan="2"><strong><font class="_mt" style="font-family: Calibri;">Worst Quarter</font></strong></td> <td style="background-color: transparent;" class="xl67"><strong><font class="_mt" style="font-family: Calibri;">6/30/04</font></strong></td> <td style="background-color: transparent;" class="xl68"><strong><font class="_mt" style="font-family: Calibri;">-2.41%</font></strong></td></tr></table></center></div></div></div><p style="margin-top: 0px; margin-bottom: 0px;" align="left"><font color="#008080" class="_mt" style="font-family: Times;"> </font> </p> <p style="margin-top: 0px; margin-bottom: 0px;" align="center"><font color="#008080" class="_mt" style="font-family: Times;"> <font color="#000000" size="1" class="_mt" style="font-family: Times New Roman;">The fund's return for the six months ended 6/30/12 was 2.74%.</font><font color="#008080" class="_mt" style="font-family: Times;"> </font></font></p></div> </div>
<font style="font-family: serif; font-size: 10pt; ">This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font>
<font style="font-family: serif; font-size: 10pt; ">This table describes the fees and expenses that you may pay if you buy and hold shares of the fund.</font>
<center><font style=" FONT-STYLE: italic; FONT-FAMILY: Sans-Serif; COLOR: #004f7c; FONT-SIZE: 8pt;"><b>Annual fund operating expenses<br>(expenses that you pay each year as a<br>percentage of the value of your investment)</b</font></center>
<center><table border="0" cellspacing="0" cellpadding="0" width="267" style="color: rgb(0, 0, 0); font-family: Helvetica, Arial, san-serif; font-size: 11px; text-align: left; border-collapse: collapse; "><tr style="height: 15pt; "><td class="xl65" height="20" width="64" style="background-color: transparent; width: 48pt; height: 15pt; "> </td><td class="xl65" width="64" style="background-color: transparent; width: 48pt; "> </td><td class="xl66" width="75" style="background-color: transparent; width: 56pt; "><strong><em>Quarter </em></strong></td><td class="xl66" width="64" style="background-color: transparent; width: 48pt; "><strong><em>Total</em></strong></td></tr><tr style="height: 15pt; "><td class="xl65" height="20" style="background-color: transparent; height: 15pt; "> </td><td class="xl65" style="background-color: transparent; "> </td><td class="xl66" style="background-color: transparent; "><em><strong>Ended </strong></em></td><td class="xl66" style="background-color: transparent; "><em><strong> Return</strong></em></td></tr><tr style="height: 15pt; "><td class="xl69" height="20" colspan="2" style="background-color: transparent; height: 15pt; "><strong>Best Quarter</strong></td><td class="xl67" style="background-color: transparent; "><strong>6/30/09</strong></td><td class="xl68" style="background-color: transparent; "><strong>5.07%</strong></td></tr><tr style="height: 15pt; "><td class="xl69" height="20" colspan="2" style="background-color: transparent; height: 15pt; "><strong>Worst Quarter </strong></td><td class="xl67" style="background-color: transparent; "><strong>6/30/04 </strong></td><td class="xl68" style="background-color: transparent; "><strong>-2.36%</strong></td></tr></table><p style="font-family: Helvetica, Arial, san-serif; font-size: 11px; text-align: justify; margin: 0in 0in 6pt; "></p><font lang="EN-US" class="_mt" style="background-color: line-height: 12pt; font-size: 10pt; font-family: 'ITC Berkeley Oldstyle Std Bk'; "><font lang="EN-US" class="_mt" style="font-size: 7pt; font-family: MetaNormalLF-Roman; ">The fund's return for the six months ended 6/30/12 was 2.86%.</font></font></center>
<font style="font-family: serif; font-size: 8pt; ">The figure shown under “Total annual fund operating expenses after fee waiver/expense reimbursement” does not match the “Ratio of expenses to average net assets” shown in the Financial Highlights table, as that figure does not include acquired fund fees and expenses.</font>
<font style="font-family: serif; font-size: 10pt; ">The bar chart showing calendar year returns and the average annual total returns table indicate risk by illustrating how much returns can differ from one year to the next and how fund performance compares with that of a comparable market index.</font>
1-800-225-5132
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<font style="font-family: serif; font-size: 10pt; ">This table describes the fees and expenses that you may pay if you buy and hold shares of the fund.</font>
<font style="font-family: sans-serif; color: rgb(0, 79, 124); font-size: 8pt; "><b><i>Fees and Expenses of the Fund’s R Class</i></b></font><br/><br/><center><font style=" FONT-STYLE: italic; FONT-FAMILY: Sans-Serif; COLOR: #004f7c; FONT-SIZE: 8pt;"><b>Annual fund operating expenses<br/>(expenses that you pay each year as a<br/>percentage of the value of your investment)</b</font></center>
<font style="font-family: serif; font-size: 8pt; ">The figure shown under “Total annual fund operating expenses after fee waiver/expense reimbursement” does not match the “Ratio of expenses to average net assets” shown in the Financial Highlights table, as that figure does not include acquired fund fees and expenses.</font>
<font style="font-family: serif; font-size: 10pt; ">The bar chart showing calendar year returns and the average annual total returns table indicate risk by illustrating how much returns can differ from one year to the next and how fund performance compares with that of a comparable market index.</font>
1-800-638-8790
<div> <div class="MetaData"><b><i> </i></b> <div><font class="_mt" style="font-family: Calibri;"> </font> </div> <div> <div style="text-align: center; text-indent: -5.75pt; margin: 1pt 0in 1pt 5.75pt;" align="center"> <div align="left"> <center><table style="width: 195pt; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="260"><tr style="height: 15pt;"> <td style="background-color: transparent; width: 48pt; height: 15pt;" height="20" width="64"> </td> <td style="background-color: transparent; width: 48pt;" width="64"> </td> <td style="background-color: transparent; width: 51pt;" class="xl65" width="68"><em><strong><font class="_mt" style="font-family: Calibri;">Quarter</font></strong></em></td> <td style="background-color: transparent; width: 48pt;" class="xl65" width="64"><em><strong><font class="_mt" style="font-family: Calibri;"> Total</font></strong></em></td></tr> <tr style="height: 15pt;"><td style="background-color: transparent; height: 15pt;" height="20"> </td> <td style="background-color: transparent;"> </td> <td style="background-color: transparent;" class="xl65"><em><strong><font class="_mt" style="font-family: Calibri;"> Ended</font></strong></em></td> <td style="background-color: transparent;" class="xl65"><em><strong><font class="_mt" style="font-family: Calibri;">Return</font></strong></em></td></tr> <tr style="height: 15pt;"><td style="background-color: transparent; height: 15pt;" class="xl66" height="20" colspan="2"><strong><font class="_mt" style="font-family: Calibri;">Best Quarter</font></strong></td> <td style="background-color: transparent;" class="xl67"><strong><font class="_mt" style="font-family: Calibri;">6/30/09</font></strong></td> <td style="background-color: transparent;" class="xl68"><strong><font class="_mt" style="font-family: Calibri;">4.95%</font></strong></td></tr> <tr style="height: 15pt;"><td style="background-color: transparent; height: 15pt;" class="xl66" height="20" colspan="2"><strong><font class="_mt" style="font-family: Calibri;">Worst Quarter</font></strong></td> <td style="background-color: transparent;" class="xl67"><strong><font class="_mt" style="font-family: Calibri;">6/30/04</font></strong></td> <td style="background-color: transparent;" class="xl68"><strong><font class="_mt" style="font-family: Calibri;">-2.57%</font></strong></td></tr></table></center></div></div></div><p style="margin-top: 0px; margin-bottom: 0px;" align="left"><font color="#008080" class="_mt" style="font-family: Times;"> </font> </p> <p style="margin-top: 0px; margin-bottom: 0px;" align="center"><font color="#008080" class="_mt" style="font-family: Times;"> <font color="#000000" size="1" class="_mt" style="font-family: Times New Roman;">The fund's return for the six months ended 6/30/12 was 2.69%.</font><font color="#008080" class="_mt" style="font-family: Times;"> </font></font></p></div> </div>
117
<font style="font-family: serif; font-size: 10pt; ">The figure shown under “Total annual fund operating expenses after fee waiver/expense reimbursement” does not match the “Ratio of expenses to average net assets” shown in the Financial Highlights table, as that figure does not include acquired fund fees and expenses.</font>
<font style="font-family: serif; font-size: 10pt; ">The bar chart showing calendar year returns and the average annual total returns table indicate risk by illustrating how much returns can differ from one year to the next and how fund performance compares with that of a comparable market index.</font>
1-800-638-8790
2002-09-30
2002-09-30
2002-09-30
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<font style="font-family: sans-serif; color: rgb(0, 79, 124); font-size: 11pt; font-weight: bold; ">Investment Objective</font>
<font style="font-family: sans-serif; color: rgb(0, 79, 124); font-size: 11pt; font-weight: bold; ">Fees and Expenses </font>
<font style="font-family: sans-serif; color: rgb(0, 79, 124); font-size: 11pt; font-weight: bold; ">Investments, Risks, and Performance </font><br/><br/><font style="font-family: sans-serif; font-size: 9.5pt; font-weight: bold; ">Principal Investment Strategies</font>
<font style="font-style: italic; font-family: sans-serif; color: rgb(0, 79, 124); font-size: 8pt; font-weight: bold; ">Average Annual Total Returns<center>Periods ended<br/> December 31, 2011</center></font>
<font style="font-family: sans-serif; color: rgb(0, 79, 124); font-size: 9.5pt; "><b>Investment Objective</b></font>
<font style="font-family: sans-serif; color: rgb(0, 79, 124); font-size: 9.5pt; "><b>Fees and Expenses</b></font>
<font style="font-family: sans-serif; color: rgb(0, 79, 124); font-size: 9.5pt; "><b>Investments, Risks, and Performance</b></font><br/><br/><font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 9.5pt; FONT-WEIGHT: bold">Principal Investment Strategies</font>
<font style="font-family: serif; font-size: 10pt; ">As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund’s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows: </font><br /><br /><font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Active management risk</font> <font style="font-family: serif; font-size: 10pt; ">The fund is subject to the risk that the investment adviser’s judgments about the attractiveness, value, or potential appreciation of the fund’s investments may prove to be incorrect. If the securities selected and strategies employed by the fund fail to produce the intended results, the fund could underperform other funds with similar objectives and investment strategies. </font><br /><br /><font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Interest rate risk</font> <font style="font-family: serif; font-size: 10pt; ">This is the risk that a rise in interest rates will cause the price of a fixed rate debt security to fall. Generally, securities with longer maturities and funds with longer weighted average maturities carry greater interest rate risk. </font><br /><br /><font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Credit risk</font> <font style="font-family: serif; font-size: 10pt; ">This is the risk that an issuer of a debt security could suffer an adverse change in financial condition that results in a payment default, security downgrade, or inability to meet a financial obligation. </font><br /><br /><font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Liquidity risk </font> <font style="font-family: serif; font-size: 10pt; ">This is the risk that the fund may not be able to sell a holding in a timely manner at a desired price. </font><br /><br /><font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Foreign investing risk</font> <font style="font-family: serif; font-size: 10pt; ">This is the risk that the fund’s investments in foreign securities may be adversely affected by political and economic conditions overseas, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar. </font><br /><br /><font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Prepayment risk and extension risk</font> <font style="font-family: serif; font-size: 10pt; ">Prepayment risk is the risk that the principal on mortgage-backed securities, other asset-backed securities or any debt security with an embedded call option may be prepaid at any time, which could reduce yield and market value. The rate of prepayments tends to increase as interest rates fall, which could cause the average maturity of the portfolio to shorten. Extension risk may result from a rise in interest rates, which tends to make mortgage-backed securities, asset-backed securities, and other callable debt securities more volatile. </font><br /><br /><font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Derivatives risk</font> <font style="font-family: serif; font-size: 10pt; ">To the extent the fund uses interest rate futures and forward currency exchange contracts, it is exposed to additional volatility in comparison to investing directly in bonds and other debt securities. These instruments can be illiquid and difficult to value, may involve leverage so that small changes produce disproportionate losses for the fund, and instruments not traded on an exchange are subject to the risk that a counterparty to the transaction will fail to meet its obligations under the derivatives contract. The fund’s principal use of derivatives involves the risk that anticipated interest rate movements and changes in currency values and currency exchange rates will not be accurately predicted, which could significantly harm the fund’s performance.</font>
<font style=" FONT-STYLE: italic; FONT-FAMILY: Sans-Serif; COLOR: #004f7c; FONT-SIZE: 8pt;"><b>Average Annual Total Returns</b></font><center><font style=" FONT-STYLE: italic; FONT-FAMILY: Sans-Serif; COLOR: #004f7c; FONT-SIZE: 8pt;"><b>Periods ended<br/>December 31, 2011</b</font></center>
<font style="font-family: serif; font-size: 10pt; ">In addition, the average annual total returns table shows hypothetical after-tax returns to suggest how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or individual retirement account.</font>
<font style="font-family: serif; font-size: 10pt; ">The fund’s share price fluctuates, which means you could lose money by investing in the fund.</font>
<font style="font-family: serif; font-size: 10pt; ">As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund’s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows: </font><br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Active management risk</font> <font style="font-family: serif; font-size: 10pt; ">The fund is subject to the risk that the investment adviser’s judgments about the attractiveness, value, or potential appreciation of the fund’s investments may prove to be incorrect. If the securities selected and strategies employed by the fund fail to produce the intended results, the fund could underperform other funds with similar objectives and investment strategies.</font> <br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Interest rate risk</font> <font style="font-family: serif; font-size: 10pt; ">This is the risk that a rise in interest rates will cause the price of a fixed rate debt security to fall. Generally, securities with longer maturities and funds with longer weighted average maturities carry greater interest rate risk. </font> <br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Credit risk</font> <font style="font-family: serif; font-size: 10pt; ">This is the risk that an issuer of a debt security could suffer an adverse change in financial condition that results in a payment default, security downgrade, or inability to meet a financial obligation. </font> <br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Liquidity risk </font> <font style="font-family: serif; font-size: 10pt; ">This is the risk that the fund may not be able to sell a holding in a timely manner at a desired price. </font><br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Foreign investing risk</font> <font style="font-family: serif; font-size: 10pt; ">This is the risk that the fund’s investments in foreign securities may be adversely affected by political and economic conditions overseas, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar.</font> <br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Prepayment risk and extension risk</font> <font style="font-family: serif; font-size: 10pt; ">Prepayment risk is the risk that the principal on mortgage-backed securities, other asset-backed securities or any debt security with an embedded call option may be prepaid at any time, which could reduce yield and market value. The rate of prepayments tends to increase as interest rates fall, which could cause the average maturity of the portfolio to shorten. Extension risk may result from a rise in interest rates, which tends to make mortgage-backed securities, asset-backed securities, and other callable debt securities more volatile.</font> <br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Derivatives risk</font> <font style="font-family: serif; font-size: 10pt; ">To the extent the fund uses interest rate futures and forward currency exchange contracts, it is exposed to additional volatility in comparison to investing directly in bonds and other debt securities. These instruments can be illiquid and difficult to value, may involve leverage so that small changes produce disproportionate losses for the fund, and instruments not traded on an exchange are subject to the risk that a counterparty to the transaction will fail to meet its obligations under the derivatives contract. The fund’s principal use of derivatives involves the risk that anticipated interest rate movements and changes in currency values and currency exchange rates will not be accurately predicted, which could significantly harm the fund’s performance.</font>
<font style="font-family: serif; font-size: 10pt; ">After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or individual retirement account.</font>
<font style="font-family: serif; font-size: 10pt; ">In addition, the average annual total returns table shows hypothetical after-tax returns to suggest how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or individual retirement account.</font>
0.0083
-0.0002
0
20
259
0.0063
-0.0002
0.0116
0.0585
195
0.0748
0.0625
<font style="font-family: sans-serif; color: rgb(0, 79, 124); font-size: 9.5pt; "><b>Investment Objective</b></font>
<font style="font-family: sans-serif; color: rgb(0, 79, 124); font-size: 9.5pt; "><b>Fees and Expenses</b></font>
<font style="font-family: serif; font-size: 10pt; ">This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year, the fund’s operating expenses remain the same, and the expense limitation currently in place is not renewed. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font>
<font style="font-family: sans-serif; color: rgb(0, 79, 124); font-size: 11pt; font-weight: bold; ">Investments, Risks, and Performance </font><br/><br/><font style="font-family: sans-serif; font-size: 9.5pt; font-weight: bold; ">Principal Investment Strategies</font>
<font style="font-family: serif; font-size: 10pt; ">As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund’s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows:</font><br /><br /><font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Active management risk</font> <font style="font-family: serif; font-size: 10pt; ">The fund is subject to the risk that the investment adviser’s judgments about the attractiveness, value, or potential appreciation of the fund’s investments may prove to be incorrect. If the securities selected and strategies employed by the fund fail to produce the intended results, the fund could underperform other funds with similar objectives and investment strategies. </font> <br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Interest rate risk</font> <font style="font-family: serif; font-size: 10pt; ">This is the risk that a rise in interest rates will cause the price of a fixed rate debt security to fall. Generally, securities with longer maturities and funds with longer weighted average maturities carry greater interest rate risk. </font> <br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Credit risk</font> <font style="font-family: serif; font-size: 10pt; "> This is the risk that an issuer of a debt security could suffer an adverse change in financial condition that results in a payment default, security downgrade, or inability to meet a financial obligation. </font> <br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Liquidity risk </font> <font style="font-family: serif; font-size: 10pt; ">This is the risk that the fund may not be able to sell a holding in a timely manner at a desired price. </font><br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Foreign investing risk</font> <font style="font-family: serif; font-size: 10pt; ">This is the risk that the fund’s investments in foreign securities may be adversely affected by political and economic conditions overseas, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar.</font> <br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Prepayment risk and extension risk</font> <font style="font-family: serif; font-size: 10pt; ">Prepayment risk is the risk that the principal on mortgage-backed securities, other asset-backed securities or any debt security with an embedded call option may be prepaid at any time, which could reduce yield and market value. The rate of prepayments tends to increase as interest rates fall, which could cause the average maturity of the portfolio to shorten. Extension risk may result from a rise in interest rates, which tends to make mortgage-backed securities, asset-backed securities, and other callable debt securities more volatile.</font> <br /><br /><font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Derivatives risk</font> <font style="font-family: serif; font-size: 10pt; ">To the extent the fund uses interest rate futures and forward currency exchange contracts, it is exposed to additional volatility in comparison to investing directly in bonds and other debt securities. These instruments can be illiquid and difficult to value, may involve leverage so that small changes produce disproportionate losses for the fund, and instruments not traded on an exchange are subject to the risk that a counterparty to the transaction will fail to meet its obligations under the derivatives contract. The fund’s principal use of derivatives involves the risk that anticipated interest rate movements and changes in currency values and currency exchange rates will not be accurately predicted, which could significantly harm the fund’s performance.</font>
<font style="font-style: italic; font-family: sans-serif; color: rgb(0, 79, 124); font-size: 8pt; font-weight: bold; ">Average Annual Total Returns<center>Periods ended<br/> December 31, 2011</center></font>
<font style="font-family: serif; font-size: 10pt; ">In addition, the average annual total returns table shows hypothetical after-tax returns to suggest how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or individual retirement account.</font>
September 30, 2014
<font style="font-family: serif; font-size: 10pt; ">The fund’s share price fluctuates, which means you could lose money by investing in the fund.</font>
375
0.0124
-0.0009
<font style="font-family: serif; font-size: 10pt; "> After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or individual retirement account.</font>
0.0557
0.0578
0.0429
0.0414
0.0578
0.054
<font style="font-family: serif; font-size: 10pt; ">The fund’s share price fluctuates, which means you could lose money by investing in the fund.</font>
2009-06-30
0.0502
<font style="font-family: serif; font-size: 10pt; "><b>Worst Quarter</b></font>
2004-06-30
<font style="font-family: serif; font-size: 10pt; ">After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or individual retirement account.</font>
2009-06-30
0.0507
<font style="font-family: serif; font-size: 10pt; "><b>Worst Quarter</b></font>
2004-06-30
2009-06-30
0.0495
<font style="font-family: serif; font-size: 10pt; "><b>Worst Quarter</b></font>
2004-06-30
<font style="font-family: serif; font-size: 10pt; ">This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font>
false
2012-10-01
2012-10-01
<font style="font-family: serif; font-size: 10pt; ">The fund seeks the highest level of income consistent with the preservation of capital over time by investing primarily in marketable debt securities. </font>
<font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 9.5pt; FONT-WEIGHT: bold">Portfolio Turnover</font>
<font style="font-family: sans-serif; font-size: 9.5pt; font-weight: bold; ">Principal Risks</font>
<font style="font-family: sans-serif; font-size: 9.5pt; font-weight: bold; ">Performance</font>
<font style="font-family: sans-serif; color: #004f7c; font-size: 8pt; font-weight: bold; "><center> New Income Fund - Advisor Class</font><br/><font style="font-family: sans-serif; font-size: 8.5pt; font-weight: bold; "><i>Calendar Year Returns</i></center></font>
<font style="font-family: serif; font-size: 10pt; ">The fund seeks the highest level of income consistent with the preservation of capital over time by investing primarily in marketable debt securities. </font>
<font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 9.5pt; FONT-WEIGHT: bold">Portfolio Turnover</font>
<font style="font-family: serif; font-size: 10pt; ">In seeking income and capital preservation, the fund pursues a total return strategy. Active management of the portfolio can result in bonds being sold at gains or losses. However, over the long term, the fund seeks to achieve its objective by investing primarily in income-producing securities that possess what the fund believes are favorable total return (income plus increases in principal value) characteristics. </font><br /><br /><font style="font-family: serif; font-size: 10pt; ">The fund will invest at least 80% of its total assets in income-producing securities, which may include, but are not limited to, U.S. government and agency obligations, mortgage- and asset-backed securities, corporate bonds, foreign securities, collateralized mortgage obligations, Treasury inflation protected securities, and others, including, on occasion, equities. </font><br /><br /><font style="font-family: serif; font-size: 10pt; ">Eighty percent (80%) of the debt securities purchased by the fund will be rated investment grade (AAA, AA, A, BBB, or an equivalent rating) by each of the major credit rating agencies (Standard & Poor’s, Moody’s, and Fitch) that have assigned a rating to the security or, if unrated, deemed to be of investment-grade quality by T. Rowe Price. Up to 15% of the fund’s total assets may be invested in “split-rated securities,” which are securities that have been rated investment-grade by at least one rating agency but below investment-grade by another rating agency. In addition, the fund may invest up to 5% of its total assets in securities that have received below investment-grade ratings from each of the rating agencies that have assigned ratings to the securities or, if unrated, deemed to be below investment-grade quality by T. Rowe Price. </font><br /><br /><font style="font-family: serif; font-size: 10pt; ">The fund has considerable flexibility in seeking high yields. There are no maturity restrictions, so the fund can purchase longer-term bonds, which tend to have higher yields than shorter-term bonds. However, the portfolio’s weighted average maturity is expected to be between four and 15 years. In addition, when there is a large yield difference between the various quality levels, the fund may move down the credit scale and purchase lower-rated bonds with higher yields. When the difference is small or the outlook warrants, the fund may concentrate investments in higher-rated issues. </font><br /><br /><font style="font-family: serif; font-size: 10pt; ">While most assets will typically be invested in bonds, the fund also uses interest rate futures and forward currency exchange contracts in keeping with the fund’s objectives. Interest rate futures would typically be used to manage the fund’s exposure to interest rate changes or to adjust portfolio duration. Forward currency exchange contracts would be used to gain exposure to certain currencies expected to increase or decrease in value relative to other currencies or to protect the fund’s foreign bond holdings from adverse currency movements relative to the U.S. dollar. </font><br /><br /><font style="font-family: serif; font-size: 10pt; ">The fund may sell holdings for a variety of reasons, such as to adjust the portfolio’s average maturity, duration, or credit quality or to shift assets into and out of higher-yielding or lower-yielding securities or different sectors.</font>
<font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 9.5pt; FONT-WEIGHT: bold">Principal Risks</font>
<font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 9.5pt; FONT-WEIGHT: bold">Performance</font>
<font style="font-family: serif; font-size: 10pt; ">The bar chart showing calendar year returns and the average annual total returns table indicate risk by illustrating how much returns can differ from one year to the next and how fund performance compares with that of a comparable market index. The fund’s past performance (before and after taxes) is not necessarily an indication of future performance. <br/><br/>The fund can also experience short-term performance swings, as shown by the best and worst calendar quarter returns during the years depicted.</font>
<b><center><font style="font-family: sans-serif; color: rgb(0, 79, 124); font-size: 8.5pt; ">New Income Fund</font><br/><font style="font-family: sans-serif; font-size: 6.5pt; font-weight: bold; "><i>Calendar Year Returns</i></font></center></b>
1.571
<font style="font-family: serif; font-size: 10pt; ">The fund’s past performance (before and after taxes) is not necessarily an indication of future performance.</font>
<font style="font-family: serif; font-size: 10pt; ">In seeking income and capital preservation, the fund pursues a total return strategy. Active management of the portfolio can result in bonds being sold at gains or losses. However, over the long term, the fund seeks to achieve its objective by investing primarily in income-producing securities that possess what the fund believes are favorable total return (income plus increases in principal value) characteristics.</font><br/><br/><font style="font-family: serif; font-size: 10pt; ">The fund will invest at least 80% of its total assets in income-producing securities, which may include, but are not limited to, U.S. government and agency obligations, mortgage- and asset-backed securities, corporate bonds, foreign securities, collateralized mortgage obligations, Treasury inflation protected securities, and others, including, on occasion, equities. </font> <br/><br/><font style="font-family: serif; font-size: 10pt; ">Eighty percent (80%) of the debt securities purchased by the fund will be rated investment grade (AAA, AA, A, BBB, or an equivalent rating) by each of the major credit rating agencies (Standard & Poor’s, Moody’s, and Fitch) that have assigned a rating to the security or, if unrated, deemed to be of investment-grade quality by T. Rowe Price. Up to 15% of the fund’s total assets may be invested in “split-rated securities,” which are securities that have been rated investment-grade by at least one rating agency but below investment-grade by another rating agency. In addition, the fund may invest up to 5% of its total assets in securities that have received below investment-grade ratings from each of the rating agencies that have assigned ratings to the securities or, if unrated, deemed to be below investment-grade quality by T. Rowe Price. </font> <br/><br/><font style="font-family: serif; font-size: 10pt; ">The fund has considerable flexibility in seeking high yields. There are no maturity restrictions, so the fund can purchase longer-term bonds, which tend to have higher yields than shorter-term bonds. However, the portfolio’s weighted average maturity is expected to be between four and 15 years. In addition, when there is a large yield difference between the various quality levels, the fund may move down the credit scale and purchase lower-rated bonds with higher yields. When the difference is small or the outlook warrants, the fund may concentrate investments in higher-rated issues. </font><br/><br/><font style="font-family: serif; font-size: 10pt; ">While most assets will typically be invested in bonds, the fund also uses interest rate futures and forward currency exchange contracts in keeping with the fund’s objectives. Interest rate futures would typically be used to manage the fund’s exposure to interest rate changes or to adjust portfolio duration. Forward currency exchange contracts would be used to gain exposure to certain currencies expected to increase or decrease in value relative to other currencies or to protect the fund’s foreign bond holdings from adverse currency movements relative to the U.S. dollar. </font> <br/><br/><font style="font-family: serif; font-size: 10pt; ">The fund may sell holdings for a variety of reasons, such as to adjust the portfolio’s average maturity, duration, or credit quality or to shift assets into and out of higher-yielding or lower-yielding securities or different sectors.</font>
<font style="font-family: serif; font-size: 10pt; ">After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</font>
<font style="font-family: serif; font-size: 10pt; ">The bar chart showing calendar year returns and the average annual total returns table indicate risk by illustrating how much returns can differ from one year to the next and how fund performance compares with that of a comparable market index. The fund’s past performance (before and after taxes) is not necessarily an indication of future performance.</font><br/><br/><font style="font-family: serif; font-size: 10pt; ">The fund can also experience short-term performance swings, as shown by the best and worst calendar quarter returns during the years depicted. </font>
<font style="font-family: serif; font-size: 10pt; ">Updated performance information is available through troweprice.com or may be obtained by calling 1-800-638-8790.</font>
0.0045
0.0025
0.0011
0.0002
0.0081
1002
0.0045
0
0.0016
0.0002
0.0061
0.0448
0.026
0.0377
0.0618
0.1213
0.0684
762
0.046
0.0285
0.0413
0.0633
0.0141
0.0585
0.0454
0.1233
0.0387
0.0784
0.0687
0.0716
0.0637
0.0473
0.0449
0.065
0.0588
0.0537
0.04
0.0386
0.0532
0.0507
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<font style="font-family: serif; font-size: 10pt; ">The fund seeks the highest level of income consistent with the preservation of capital over time by investing primarily in marketable debt securities.</font>
<font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 9.5pt; FONT-WEIGHT: bold">Portfolio Turnover</font>
<font style="font-family: serif; font-size: 10pt; ">In seeking income and capital preservation, the fund pursues a total return strategy. Active management of the portfolio can result in bonds being sold at gains or losses. However, over the long term, the fund seeks to achieve its objective by investing primarily in income-producing securities that possess what the fund believes are favorable total return (income plus increases in principal value) characteristics. <br /><br />The fund will invest at least 80% of its total assets in income-producing securities, which may include, but are not limited to, U.S. government and agency obligations, mortgage- and asset-backed securities, corporate bonds, foreign securities, collateralized mortgage obligations, Treasury inflation protected securities, and others, including, on occasion, equities. <br /><br />Eighty percent (80%) of the debt securities purchased by the fund will be rated investment grade (AAA, AA, A, BBB, or an equivalent rating) by each of the major credit rating agencies (Standard & Poor’s, Moody’s, and Fitch) that have assigned a rating to the security or, if unrated, deemed to be of investment-grade quality by T. Rowe Price. Up to 15% of the fund’s total assets may be invested in “split-rated securities,” which are securities that have been rated investment-grade by at least one rating agency but below investment-grade by another rating agency. In addition, the fund may invest up to 5% of its total assets in securities that have received below investment-grade ratings from each of the rating agencies that have assigned ratings to the securities or, if unrated, deemed to be below investment-grade quality by T. Rowe Price. <br /><br />The fund has considerable flexibility in seeking high yields. There are no maturity restrictions, so the fund can purchase longer-term bonds, which tend to have higher yields than shorter-term bonds. However, the portfolio’s weighted average maturity is expected to be between four and 15 years. In addition, when there is a large yield difference between the various quality levels, the fund may move down the credit scale and purchase lower-rated bonds with higher yields. When the difference is small or the outlook warrants, the fund may concentrate investments in higher-rated issues. <br /><br />While most assets will typically be invested in bonds, the fund also uses interest rate futures and forward currency exchange contracts in keeping with the fund’s objectives. Interest rate futures would typically be used to manage the fund’s exposure to interest rate changes or to adjust portfolio duration. Forward currency exchange contracts would be used to gain exposure to certain currencies expected to increase or decrease in value relative to other currencies or to protect the fund’s foreign bond holdings from adverse currency movements relative to the U.S. dollar.<br /><br />The fund may sell holdings for a variety of reasons, such as to adjust the portfolio’s average maturity, duration, or credit quality or to shift assets into and out of higher-yielding or lower-yielding securities or different sectors.</font>
<font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 9.5pt; FONT-WEIGHT: bold">Principal Risks</font>
<font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 9.5pt; FONT-WEIGHT: bold">Performance</font>
<font style="font-family: serif; font-size: 10pt; ">The bar chart showing calendar year returns and the average annual total returns table indicate risk by illustrating how much returns can differ from one year to the next and how fund performance compares with that of a comparable market index. The fund’s past performance (before and after taxes) is not necessarily an indication of future performance.<br/><br/>The fund can also experience short-term performance swings, as shown by the best and worst calendar quarter returns during the years depicted.</font>
<center><font style="font-family: sans-serif; color: #006B6B; font-size: 8pt; font-weight: bold; ">New Income Fund–R Class</font><br/><font style="font-family: sans-serif; font-size: 8.5pt; font-weight: bold; "><i>Calendar Year Returns</i></font></center>
<font style="font-family: serif; font-size: 10pt; ">Updated performance information is available through troweprice.com or may be obtained by calling 1-800-638-8790.</font>
<font style="font-family: serif; font-size: 10pt; ">The fund’s past performance (before and after taxes) is not necessarily an indication of future performance.</font>
1484
0.0045
0.005
0.0027
0.0002
0.0115
<font style="font-family: serif; font-size: 10pt; ">After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</font>
0.0412
0.0236
0.0363
0.0579
0.0091
0.118
0.0625
0.0483
0.0412
0.0784
0.0687
0.066
0.0664
0.0467
0.0491
0.065
0.0588
<font style="font-family: serif; font-size: 10pt; ">The fund's past performance (before and after taxes) is not necessarily an indication of future performance.</font>
<font style="font-family: serif; font-size: 10pt; ">The fund's return for the six months ended</font>
<font style="font-family: serif; font-size: 10pt; "><b>Best Quarter</b></font>
-0.0241
<font style="font-family: serif; font-size: 10pt; ">After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</font>
0.0557
0.0436
0.0369
0.0784
0.0687
0.0608
0.0454
0.043
0.065
0.0588
0.0511
0.0382
0.0369
0.0532
0.0507
<font style="font-family: serif; font-size: 10pt; ">The fund's return for the six months ended</font>
<font style="font-family: serif; font-size: 10pt; "><b>Best Quarter</b></font>
-0.0236
<font style="font-family: serif; font-size: 10pt; ">The fund's return for the six months ended</font>
<font style="font-family: serif; font-size: 10pt; "><b>Best Quarter</b></font>
-0.0257
<font style="font-family: serif; font-size: 10pt; ">Updated performance information is available through troweprice.com or may be obtained by calling 1-800-225-5132.</font>
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<div style="display:none">~ http://www.troweprice.com/role/ScheduleExpenseExampleTransposedTRowePriceNewIncomeFundIncAdvisorClass column period compact * ~</div>
<div style="display:none">~ http://www.troweprice.com/role/ScheduleExpenseExampleTransposedTRowePriceNewIncomeFundIncRClass column period compact * ~</div>
<div style="display:none">~ http://www.troweprice.com/role/ScheduleAverageAnnualTotalReturnsTransposedTRowePriceNewIncomeFundIncRClass column period compact * ~</div>
0
1.571
1.571