This paper presents a unified, more-or-less complete, and largely pragmatic theory of indicative conditionals as they occur in natural language, which is entirely truth-functional and does not involve probability. It includes material implication as a special—and the most important—case, but not as the only case. The theory of conditional elements, as we term it, treats if-statements analogously to the more familiar and less controversial other truth-functional compounds, such as conjunction and disjunction.