Shareholder Report
|
12 Months Ended |
|
May 31, 2026
USD ($)
Holding
|
|---|
| Shareholder Report [Line Items] |
|
| Document Type |
N-CSR
|
| Amendment Flag |
false
|
| Registrant Name |
T. ROWE PRICE FLOATING RATE FUND, INC.
|
| Entity Central Index Key |
0001520245
|
| Entity Investment Company Type |
N-1A
|
| Document Period End Date |
May 31, 2026
|
| Shareholder Report Annual or Semi-Annual |
Annual Shareholder Report
|
| C000103068 |
|
| Shareholder Report [Line Items] |
|
| Fund Name |
Floating Rate Fund
|
| Class Name |
Investor Class
|
| Trading Symbol |
PRFRX
|
| Annual or Semi-Annual Statement [Text Block] |
This annual shareholder report contains important information about Floating Rate Fund (the "fund") for the period of June 1, 2025 to May 31, 2026.
|
| Additional Information [Text Block] |
You can find the fund’s prospectus, financial information on Form N‑CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information atwww.troweprice.com/prospectus. You can also request this information without charge by contacting T. Rowe Price at 1‑800‑638‑5660 or info@troweprice.com or contacting your intermediary.
|
| Material Fund Change Notice [Text Block] |
|
| Additional Information Phone Number |
1‑800‑638‑5660
|
| Additional Information Email |
<span style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 13.3333px; font-weight: 400; grid-area: auto; line-height: 17.3333px; margin: 0px; overflow: visible; text-align: justify; text-align-last: left; white-space-collapse: preserve-breaks;">info@troweprice.com</span>
|
| Additional Information Website |
www.troweprice.com/prospectus
|
| Expenses [Text Block] |
What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
Table Summary
|
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
Floating Rate Fund - Investor Class |
$79 |
0.77% | |
| Expenses Paid, Amount |
$ 79
|
| Expense Ratio, Percent |
0.77%
|
| Factors Affecting Performance [Text Block] |
What drove fund performance during the past 12 months?Leveraged loans advanced in the year ended May 31, 2026, despite significant volatility and inflationary pressure due to the Trump administration’s trade policies and the war in Iran. The resilient labor market, healthy corporate earnings, and the likely end of the Federal Reserve’s rate-cutting cycle supported the asset class’s performance. Compared with the fund’s style-specific benchmark, the Morningstar LSTA Performing Loan Index, credit selection in the information technology and automotive segments aided relative performance, with meaningful contributions from social networking company X/Twitter and our avoidance of First Brands Group, a supplier within the global automotive aftermarket that filed for Chapter 11 bankruptcy in September 2025. Asurion, the leading provider of mobile protection services, was a notable contributor in the wireless communications segment. Relative to the style-specific benchmark, Qlik Technologies, which offers business intelligence and analytics; and Kaseya, a leading global provider of information technology management solutions, detracted as fears about the potential impacts of displacement amid increased adoption of artificial intelligence (AI) technology weighed on their performance. The cable operators segment held back relative gains, partly due to Optimum (formerly known as Altice USA). The fund seeks high current income and some capital appreciation. We continued to pare down the portfolio’s information technology holdings, largely due to AI-displacement risk. For several quarters, we have evaluated how generative AI could affect revenue durability, pricing power, reinvestment needs, and capital structure outcomes across our software and broader technology holdings.
|
| Performance Past Does Not Indicate Future [Text] |
The fund’s past performance is not a good predictor of the fund’s future performance.
|
| Line Graph [Table Text Block] |
Table Summary
|
Investor Class |
Regulatory Benchmark |
Strategy Benchmark |
2016 |
10,000 |
10,000 |
10,000 |
2016 |
10,168 |
10,232 |
10,220 |
2016 |
10,288 |
9,908 |
10,420 |
2017 |
10,465 |
10,008 |
10,665 |
2017 |
10,551 |
10,158 |
10,760 |
2017 |
10,597 |
10,283 |
10,828 |
2017 |
10,711 |
10,227 |
10,955 |
2018 |
10,811 |
10,059 |
11,134 |
2018 |
10,875 |
10,120 |
11,234 |
2018 |
11,002 |
10,175 |
11,383 |
2018 |
10,988 |
10,089 |
11,358 |
2019 |
11,135 |
10,378 |
11,530 |
2019 |
11,283 |
10,768 |
11,677 |
2019 |
11,411 |
11,210 |
11,757 |
2019 |
11,518 |
11,178 |
11,823 |
2020 |
11,510 |
11,590 |
11,939 |
2020 |
11,107 |
11,781 |
11,329 |
2020 |
11,447 |
11,936 |
11,884 |
2020 |
11,699 |
11,992 |
12,275 |
2021 |
12,001 |
11,750 |
12,682 |
2021 |
12,136 |
11,734 |
12,827 |
2021 |
12,227 |
11,925 |
12,939 |
2021 |
12,296 |
11,854 |
13,040 |
2022 |
12,343 |
11,440 |
13,106 |
2022 |
12,070 |
10,769 |
12,798 |
2022 |
12,223 |
10,552 |
12,980 |
2022 |
12,248 |
10,332 |
12,968 |
2023 |
12,668 |
10,328 |
13,462 |
2023 |
12,751 |
10,538 |
13,571 |
2023 |
13,318 |
10,426 |
14,242 |
2023 |
13,594 |
10,454 |
14,561 |
2024 |
14,010 |
10,671 |
15,054 |
2024 |
14,330 |
10,676 |
15,427 |
2024 |
14,616 |
11,187 |
15,688 |
2024 |
14,961 |
11,173 |
16,076 |
2025 |
15,147 |
11,291 |
16,297 |
2025 |
15,352 |
11,258 |
16,487 |
2025 |
15,678 |
11,538 |
16,844 |
2025 |
15,880 |
11,809 |
17,022 |
2026 |
15,845 |
11,998 |
16,929 |
2026 |
16,227 |
11,836 |
17,335 |
|
| Average Annual Return [Table Text Block] |
Table Summary
|
1 Year |
5 Years |
10 Years |
Floating Rate Fund (Investor Class) |
5.70% |
5.98% |
4.96% |
Bloomberg U.S. Aggregate Bond Index (Regulatory Benchmark) |
5.13 |
0.17 |
1.70 |
Morningstar LSTA Performing Loan Index (Strategy Benchmark) |
5.14 |
6.21 |
5.66 | |
| No Deduction of Taxes [Text Block] |
Neither the fund’s returns nor the index returns reflect the deduction of taxes that a shareholder would pay on fund distributions or redemptions of fund shares.
|
| Updated Performance Information Location [Text Block] |
Updated performance information can be found at www.troweprice.com.
|
| Distribution of Capital [Text Block] |
The fund's total return figures reflect the reinvestment of dividends and capital gains, if any.
|
| AssetsNet |
$ 4,063,480,000
|
| Holdings Count | Holding |
338
|
| Advisory Fees Paid, Amount |
$ 16,926,000
|
| InvestmentCompanyPortfolioTurnover |
66.40%
|
| Additional Fund Statistics Significance or Limits [Text Block] |
What are some fund statistics? - Total Net Assets (000s)$4,063,480
- Number of Portfolio Holdings338
|
| Holdings [Text Block] |
Table Summary
Bank Loans |
87.2% |
Corporate Bonds |
8.4 |
Preferred Stocks |
0.2 |
Convertible Preferred Stocks |
0.2 |
Short-Term and Other |
4.0 | |
| Largest Holdings [Text Block] |
Table Summary
Hopper Merger Sub |
2.5% |
TransDigm |
1.9 |
Applied Systems |
1.7 |
Alera Group |
1.7 |
Ellucian Holdings |
1.6 |
Neptune Bidco U.S. |
1.6 |
CRC Insurance Group |
1.4 |
Asurion |
1.4 |
Engineered Machinery Holdings |
1.4 |
UKG |
1.4 | |
| Material Fund Change [Text Block] |
|
| Updated Prospectus Web Address |
www.troweprice.com/paperless
|
| C000103069 |
|
| Shareholder Report [Line Items] |
|
| Fund Name |
Floating Rate Fund
|
| Class Name |
Advisor Class
|
| Trading Symbol |
PAFRX
|
| Annual or Semi-Annual Statement [Text Block] |
This annual shareholder report contains important information about Floating Rate Fund (the "fund") for the period of June 1, 2025 to May 31, 2026.
|
| Additional Information [Text Block] |
You can find the fund’s prospectus, financial information on Form N‑CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information atwww.troweprice.com/prospectus. You can also request this information without charge by contacting T. Rowe Price at 1‑800‑638‑5660 or info@troweprice.com or contacting your intermediary.
|
| Material Fund Change Notice [Text Block] |
|
| Additional Information Phone Number |
1‑800‑638‑5660
|
| Additional Information Email |
<span style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 13.3333px; font-weight: 400; grid-area: auto; line-height: 17.3333px; margin: 0px; overflow: visible; text-align: justify; text-align-last: left; white-space-collapse: preserve-breaks;">info@troweprice.com</span>
|
| Additional Information Website |
www.troweprice.com/prospectus
|
| Expenses [Text Block] |
What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
Table Summary
|
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
Floating Rate Fund - Advisor Class |
$100 |
0.97% | |
| Expenses Paid, Amount |
$ 100
|
| Expense Ratio, Percent |
0.97%
|
| Factors Affecting Performance [Text Block] |
What drove fund performance during the past 12 months?Leveraged loans advanced in the year ended May 31, 2026, despite significant volatility and inflationary pressure due to the Trump administration’s trade policies and the war in Iran. The resilient labor market, healthy corporate earnings, and the likely end of the Federal Reserve’s rate-cutting cycle supported the asset class’s performance. Compared with the fund’s style-specific benchmark, the Morningstar LSTA Performing Loan Index, credit selection in the information technology and automotive segments aided relative performance, with meaningful contributions from social networking company X/Twitter and our avoidance of First Brands Group, a supplier within the global automotive aftermarket that filed for Chapter 11 bankruptcy in September 2025. Asurion, the leading provider of mobile protection services, was a notable contributor in the wireless communications segment. Relative to the style-specific benchmark, Qlik Technologies, which offers business intelligence and analytics; and Kaseya, a leading global provider of information technology management solutions, detracted as fears about the potential impacts of displacement amid increased adoption of artificial intelligence (AI) technology weighed on their performance. The cable operators segment held back relative gains, partly due to Optimum (formerly known as Altice USA). The fund seeks high current income and some capital appreciation. We continued to pare down the portfolio’s information technology holdings, largely due to AI-displacement risk. For several quarters, we have evaluated how generative AI could affect revenue durability, pricing power, reinvestment needs, and capital structure outcomes across our software and broader technology holdings.
|
| Performance Past Does Not Indicate Future [Text] |
The fund’s past performance is not a good predictor of the fund’s future performance.
|
| Line Graph [Table Text Block] |
Table Summary
|
Advisor Class |
Regulatory Benchmark |
Strategy Benchmark |
2016 |
10,000 |
10,000 |
10,000 |
2016 |
10,173 |
10,232 |
10,220 |
2016 |
10,288 |
9,908 |
10,420 |
2017 |
10,460 |
10,008 |
10,665 |
2017 |
10,540 |
10,158 |
10,760 |
2017 |
10,581 |
10,283 |
10,828 |
2017 |
10,678 |
10,227 |
10,955 |
2018 |
10,783 |
10,059 |
11,134 |
2018 |
10,843 |
10,120 |
11,234 |
2018 |
10,963 |
10,175 |
11,383 |
2018 |
10,944 |
10,089 |
11,358 |
2019 |
11,096 |
10,378 |
11,530 |
2019 |
11,225 |
10,768 |
11,677 |
2019 |
11,347 |
11,210 |
11,757 |
2019 |
11,459 |
11,178 |
11,823 |
2020 |
11,444 |
11,590 |
11,939 |
2020 |
11,039 |
11,781 |
11,329 |
2020 |
11,370 |
11,936 |
11,884 |
2020 |
11,614 |
11,992 |
12,275 |
2021 |
11,907 |
11,750 |
12,682 |
2021 |
12,033 |
11,734 |
12,827 |
2021 |
12,118 |
11,925 |
12,939 |
2021 |
12,179 |
11,854 |
13,040 |
2022 |
12,232 |
11,440 |
13,106 |
2022 |
11,943 |
10,769 |
12,798 |
2022 |
12,089 |
10,552 |
12,980 |
2022 |
12,108 |
10,332 |
12,968 |
2023 |
12,517 |
10,328 |
13,462 |
2023 |
12,593 |
10,538 |
13,571 |
2023 |
13,146 |
10,426 |
14,242 |
2023 |
13,412 |
10,454 |
14,561 |
2024 |
13,815 |
10,671 |
15,054 |
2024 |
14,124 |
10,676 |
15,427 |
2024 |
14,398 |
11,187 |
15,688 |
2024 |
14,731 |
11,173 |
16,076 |
2025 |
14,922 |
11,291 |
16,297 |
2025 |
15,100 |
11,258 |
16,487 |
2025 |
15,413 |
11,538 |
16,844 |
2025 |
15,604 |
11,809 |
17,022 |
2026 |
15,562 |
11,998 |
16,929 |
2026 |
15,930 |
11,836 |
17,335 |
|
| Average Annual Return [Table Text Block] |
Table Summary
|
1 Year |
5 Years |
10 Years |
Floating Rate Fund (Advisor Class) |
5.50% |
5.77% |
4.77% |
Bloomberg U.S. Aggregate Bond Index (Regulatory Benchmark) |
5.13 |
0.17 |
1.70 |
Morningstar LSTA Performing Loan Index (Strategy Benchmark) |
5.14 |
6.21 |
5.66 | |
| No Deduction of Taxes [Text Block] |
Neither the fund’s returns nor the index returns reflect the deduction of taxes that a shareholder would pay on fund distributions or redemptions of fund shares.
|
| Updated Performance Information Location [Text Block] |
Updated performance information can be found at www.troweprice.com.
|
| Distribution of Capital [Text Block] |
The fund's total return figures reflect the reinvestment of dividends and capital gains, if any.
|
| AssetsNet |
$ 4,063,480,000
|
| Holdings Count | Holding |
338
|
| Advisory Fees Paid, Amount |
$ 16,926,000
|
| InvestmentCompanyPortfolioTurnover |
66.40%
|
| Additional Fund Statistics Significance or Limits [Text Block] |
What are some fund statistics? - Total Net Assets (000s)$4,063,480
- Number of Portfolio Holdings338
|
| Holdings [Text Block] |
Table Summary
Bank Loans |
87.2% |
Corporate Bonds |
8.4 |
Preferred Stocks |
0.2 |
Convertible Preferred Stocks |
0.2 |
Short-Term and Other |
4.0 | |
| Largest Holdings [Text Block] |
Table Summary
Hopper Merger Sub |
2.5% |
TransDigm |
1.9 |
Applied Systems |
1.7 |
Alera Group |
1.7 |
Ellucian Holdings |
1.6 |
Neptune Bidco U.S. |
1.6 |
CRC Insurance Group |
1.4 |
Asurion |
1.4 |
Engineered Machinery Holdings |
1.4 |
UKG |
1.4 | |
| Material Fund Change [Text Block] |
|
| Updated Prospectus Web Address |
www.troweprice.com/paperless
|
| C000177200 |
|
| Shareholder Report [Line Items] |
|
| Fund Name |
Floating Rate Fund
|
| Class Name |
I Class
|
| Trading Symbol |
TFAIX
|
| Annual or Semi-Annual Statement [Text Block] |
This annual shareholder report contains important information about Floating Rate Fund (the "fund") for the period of June 1, 2025 to May 31, 2026.
|
| Additional Information [Text Block] |
You can find the fund’s prospectus, financial information on Form N‑CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information atwww.troweprice.com/prospectus. You can also request this information without charge by contacting T. Rowe Price at 1‑800‑638‑5660 or info@troweprice.com or contacting your intermediary.
|
| Material Fund Change Notice [Text Block] |
|
| Additional Information Phone Number |
1‑800‑638‑5660
|
| Additional Information Email |
<span style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 13.3333px; font-weight: 400; grid-area: auto; line-height: 17.3333px; margin: 0px; overflow: visible; text-align: justify; text-align-last: left; white-space-collapse: preserve-breaks;">info@troweprice.com</span>
|
| Additional Information Website |
www.troweprice.com/prospectus
|
| Expenses [Text Block] |
What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
Table Summary
|
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
Floating Rate Fund - I Class |
$66 |
0.64% | |
| Expenses Paid, Amount |
$ 66
|
| Expense Ratio, Percent |
0.64%
|
| Factors Affecting Performance [Text Block] |
What drove fund performance during the past 12 months?Leveraged loans advanced in the year ended May 31, 2026, despite significant volatility and inflationary pressure due to the Trump administration’s trade policies and the war in Iran. The resilient labor market, healthy corporate earnings, and the likely end of the Federal Reserve’s rate-cutting cycle supported the asset class’s performance. Compared with the fund’s style-specific benchmark, the Morningstar LSTA Performing Loan Index, credit selection in the information technology and automotive segments aided relative performance, with meaningful contributions from social networking company X/Twitter and our avoidance of First Brands Group, a supplier within the global automotive aftermarket that filed for Chapter 11 bankruptcy in September 2025. Asurion, the leading provider of mobile protection services, was a notable contributor in the wireless communications segment. Relative to the style-specific benchmark, Qlik Technologies, which offers business intelligence and analytics; and Kaseya, a leading global provider of information technology management solutions, detracted as fears about the potential impacts of displacement amid increased adoption of artificial intelligence (AI) technology weighed on their performance. The cable operators segment held back relative gains, partly due to Optimum (formerly known as Altice USA). The fund seeks high current income and some capital appreciation. We continued to pare down the portfolio’s information technology holdings, largely due to AI-displacement risk. For several quarters, we have evaluated how generative AI could affect revenue durability, pricing power, reinvestment needs, and capital structure outcomes across our software and broader technology holdings.
|
| Performance Past Does Not Indicate Future [Text] |
The fund’s past performance is not a good predictor of the fund’s future performance.
|
| Line Graph [Table Text Block] |
Table Summary
|
I Class |
Regulatory Benchmark |
Strategy Benchmark |
11/29/16 |
500,000 |
500,000 |
500,000 |
11/30/16 |
500,562 |
498,674 |
500,375 |
2/28/17 |
509,251 |
503,720 |
512,166 |
5/31/17 |
513,569 |
511,246 |
516,720 |
8/31/17 |
515,949 |
517,530 |
520,000 |
11/30/17 |
521,133 |
514,702 |
526,092 |
2/28/18 |
526,665 |
506,265 |
534,689 |
5/31/18 |
529,995 |
509,331 |
539,451 |
8/31/18 |
536,356 |
512,100 |
546,609 |
11/30/18 |
535,296 |
507,795 |
545,422 |
2/28/19 |
543,205 |
522,312 |
553,675 |
5/31/19 |
550,010 |
541,930 |
560,749 |
8/31/19 |
556,460 |
564,193 |
564,584 |
11/30/19 |
562,402 |
562,592 |
567,759 |
2/29/20 |
561,587 |
583,332 |
573,343 |
5/31/20 |
542,699 |
592,956 |
544,044 |
8/31/20 |
559,460 |
600,715 |
570,684 |
11/30/20 |
571,312 |
603,570 |
589,445 |
2/28/21 |
586,845 |
591,403 |
609,006 |
5/31/21 |
592,953 |
590,555 |
615,964 |
8/31/21 |
597,648 |
600,209 |
621,328 |
11/30/21 |
601,824 |
596,608 |
626,185 |
2/28/22 |
604,307 |
575,765 |
629,354 |
5/31/22 |
590,528 |
541,999 |
614,601 |
8/31/22 |
598,876 |
531,089 |
623,308 |
11/30/22 |
600,337 |
520,006 |
622,758 |
2/28/23 |
620,420 |
519,790 |
646,453 |
5/31/23 |
624,721 |
530,385 |
651,691 |
8/31/23 |
652,685 |
524,752 |
683,921 |
11/30/23 |
666,437 |
526,141 |
699,236 |
2/29/24 |
687,028 |
537,084 |
722,936 |
5/31/24 |
703,711 |
537,310 |
740,813 |
8/31/24 |
717,221 |
563,042 |
753,350 |
11/30/24 |
734,394 |
562,314 |
771,982 |
2/28/25 |
744,554 |
568,279 |
782,585 |
5/31/25 |
754,832 |
566,641 |
791,732 |
8/31/25 |
770,295 |
580,700 |
808,896 |
11/30/25 |
780,482 |
594,373 |
817,411 |
2/28/26 |
778,990 |
603,857 |
812,980 |
5/31/26 |
798,047 |
595,728 |
832,456 |
|
| Average Annual Return [Table Text Block] |
Table Summary
|
1 Year |
5 Years |
Since Inception 11/29/16 |
Floating Rate Fund (I Class) |
5.73% |
6.12% |
5.04% |
Bloomberg U.S. Aggregate Bond Index (Regulatory Benchmark) |
5.13 |
0.17 |
1.86 |
Morningstar LSTA Performing Loan Index (Strategy Benchmark) |
5.14 |
6.21 |
5.51 | |
| Performance Inception Date |
Nov. 29, 2016
|
| No Deduction of Taxes [Text Block] |
Neither the fund’s returns nor the index returns reflect the deduction of taxes that a shareholder would pay on fund distributions or redemptions of fund shares.
|
| Updated Performance Information Location [Text Block] |
Updated performance information can be found at www.troweprice.com.
|
| Distribution of Capital [Text Block] |
The fund's total return figures reflect the reinvestment of dividends and capital gains, if any.
|
| AssetsNet |
$ 4,063,480,000
|
| Holdings Count | Holding |
338
|
| Advisory Fees Paid, Amount |
$ 16,926,000
|
| InvestmentCompanyPortfolioTurnover |
66.40%
|
| Additional Fund Statistics Significance or Limits [Text Block] |
What are some fund statistics? - Total Net Assets (000s)$4,063,480
- Number of Portfolio Holdings338
|
| Holdings [Text Block] |
Table Summary
Bank Loans |
87.2% |
Corporate Bonds |
8.4 |
Preferred Stocks |
0.2 |
Convertible Preferred Stocks |
0.2 |
Short-Term and Other |
4.0 | |
| Largest Holdings [Text Block] |
Table Summary
Hopper Merger Sub |
2.5% |
TransDigm |
1.9 |
Applied Systems |
1.7 |
Alera Group |
1.7 |
Ellucian Holdings |
1.6 |
Neptune Bidco U.S. |
1.6 |
CRC Insurance Group |
1.4 |
Asurion |
1.4 |
Engineered Machinery Holdings |
1.4 |
UKG |
1.4 | |
| Material Fund Change [Text Block] |
|
| Updated Prospectus Web Address |
www.troweprice.com/paperless
|
| C000219333 |
|
| Shareholder Report [Line Items] |
|
| Fund Name |
Floating Rate Fund
|
| Class Name |
Z Class
|
| Trading Symbol |
TRIZX
|
| Annual or Semi-Annual Statement [Text Block] |
This annual shareholder report contains important information about Floating Rate Fund (the "fund") for the period of June 1, 2025 to May 31, 2026.
|
| Additional Information [Text Block] |
You can find the fund’s prospectus, financial information on Form N‑CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information atwww.troweprice.com/prospectus. You can also request this information without charge by contacting T. Rowe Price at 1‑800‑638‑5660 or info@troweprice.com or contacting your intermediary.
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| Material Fund Change Notice [Text Block] |
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| Additional Information Phone Number |
1‑800‑638‑5660
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| Additional Information Email |
<span style="box-sizing: border-box; color: rgb(0, 0, 0); display: inline; flex-wrap: nowrap; font-size: 13.3333px; font-weight: 400; grid-area: auto; line-height: 17.3333px; margin: 0px; overflow: visible; text-align: justify; text-align-last: left; white-space-collapse: preserve-breaks;">info@troweprice.com</span>
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| Additional Information Website |
www.troweprice.com/prospectus
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| Expenses [Text Block] |
What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
Table Summary
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Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
Floating Rate Fund - Z Class |
$2 |
0.02% | |
| Expenses Paid, Amount |
$ 2
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| Expense Ratio, Percent |
0.02%
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| Factors Affecting Performance [Text Block] |
What drove fund performance during the past 12 months?Leveraged loans advanced in the year ended May 31, 2026, despite significant volatility and inflationary pressure due to the Trump administration’s trade policies and the war in Iran. The resilient labor market, healthy corporate earnings, and the likely end of the Federal Reserve’s rate-cutting cycle supported the asset class’s performance. Compared with the fund’s style-specific benchmark, the Morningstar LSTA Performing Loan Index, credit selection in the information technology and automotive segments aided relative performance, with meaningful contributions from social networking company X/Twitter and our avoidance of First Brands Group, a supplier within the global automotive aftermarket that filed for Chapter 11 bankruptcy in September 2025. Asurion, the leading provider of mobile protection services, was a notable contributor in the wireless communications segment. Relative to the style-specific benchmark, Qlik Technologies, which offers business intelligence and analytics; and Kaseya, a leading global provider of information technology management solutions, detracted as fears about the potential impacts of displacement amid increased adoption of artificial intelligence (AI) technology weighed on their performance. The cable operators segment held back relative gains, partly due to Optimum (formerly known as Altice USA). The fund seeks high current income and some capital appreciation. We continued to pare down the portfolio’s information technology holdings, largely due to AI-displacement risk. For several quarters, we have evaluated how generative AI could affect revenue durability, pricing power, reinvestment needs, and capital structure outcomes across our software and broader technology holdings.
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| Performance Past Does Not Indicate Future [Text] |
The fund’s past performance is not a good predictor of the fund’s future performance.
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| Line Graph [Table Text Block] |
Table Summary
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Z Class |
Regulatory Benchmark |
Strategy Benchmark |
3/16/20 |
10,000 |
10,000 |
10,000 |
5/31/20 |
10,638 |
10,215 |
10,511 |
8/31/20 |
10,984 |
10,349 |
11,025 |
11/30/20 |
11,246 |
10,398 |
11,388 |
2/28/21 |
11,557 |
10,188 |
11,766 |
5/31/21 |
11,707 |
10,173 |
11,900 |
8/31/21 |
11,818 |
10,340 |
12,004 |
11/30/21 |
11,906 |
10,278 |
12,097 |
2/28/22 |
11,973 |
9,919 |
12,159 |
5/31/22 |
11,730 |
9,337 |
11,874 |
8/31/22 |
11,901 |
9,149 |
12,042 |
11/30/22 |
11,949 |
8,958 |
12,031 |
2/28/23 |
12,381 |
8,954 |
12,489 |
5/31/23 |
12,486 |
9,137 |
12,590 |
8/31/23 |
13,065 |
9,040 |
13,213 |
11/30/23 |
13,361 |
9,064 |
13,509 |
2/29/24 |
13,795 |
9,252 |
13,967 |
5/31/24 |
14,137 |
9,256 |
14,312 |
8/31/24 |
14,446 |
9,700 |
14,554 |
11/30/24 |
14,814 |
9,687 |
14,914 |
2/28/25 |
15,026 |
9,790 |
15,119 |
5/31/25 |
15,257 |
9,762 |
15,296 |
8/31/25 |
15,594 |
10,004 |
15,627 |
11/30/25 |
15,841 |
10,239 |
15,792 |
2/28/26 |
15,818 |
10,403 |
15,706 |
5/31/26 |
16,248 |
10,263 |
16,083 |
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| Average Annual Return [Table Text Block] |
Table Summary
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1 Year |
5 Years |
Since Inception 3/16/20 |
Floating Rate Fund (Z Class) |
6.49% |
6.77% |
8.13% |
Bloomberg U.S. Aggregate Bond Index (Regulatory Benchmark) |
5.13 |
0.17 |
0.42 |
Morningstar LSTA Performing Loan Index (Strategy Benchmark) |
5.14 |
6.21 |
7.95 | |
| Performance Inception Date |
Mar. 16, 2020
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| No Deduction of Taxes [Text Block] |
Neither the fund’s returns nor the index returns reflect the deduction of taxes that a shareholder would pay on fund distributions or redemptions of fund shares.
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| Updated Performance Information Location [Text Block] |
Updated performance information can be found at www.troweprice.com.
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| Distribution of Capital [Text Block] |
The fund's total return figures reflect the reinvestment of dividends and capital gains, if any.
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| AssetsNet |
$ 4,063,480,000
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| Holdings Count | Holding |
338
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| Advisory Fees Paid, Amount |
$ 16,926,000
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| InvestmentCompanyPortfolioTurnover |
66.40%
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| Additional Fund Statistics Significance or Limits [Text Block] |
What are some fund statistics? - Total Net Assets (000s)$4,063,480
- Number of Portfolio Holdings338
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| Holdings [Text Block] |
Table Summary
Bank Loans |
87.2% |
Corporate Bonds |
8.4 |
Preferred Stocks |
0.2 |
Convertible Preferred Stocks |
0.2 |
Short-Term and Other |
4.0 | |
| Largest Holdings [Text Block] |
Table Summary
Hopper Merger Sub |
2.5% |
TransDigm |
1.9 |
Applied Systems |
1.7 |
Alera Group |
1.7 |
Ellucian Holdings |
1.6 |
Neptune Bidco U.S. |
1.6 |
CRC Insurance Group |
1.4 |
Asurion |
1.4 |
Engineered Machinery Holdings |
1.4 |
UKG |
1.4 | |
| Material Fund Change [Text Block] |
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| Updated Prospectus Web Address |
www.troweprice.com/paperless
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