The paper applies cognitive theories of text and language processing, and in particular relevance theory, to the analysis of notes in consecutive interpreting. In contrast to the pre-cognitive view, in which note-taking is seen mainly as a memory-supporting technique, the process of note-taking is described as the reception and production of a notation text. Adding the relevance-theoretical constructs of explicature and implicature to the general account of cognitive text processing as coherence building and the construction of a mental representation at local and global levels, this approach allows for the comparison of source, notation and target texts with respect to the underlying propositional representation, and shows how the sense of highly fragmentary notation texts is recovered in consecutive interpreting. The paper is based on an empirical study involving consecutive interpretations (English-German) by five trainee interpreters. The analysis shows that the interpreters operate relatively closely along micropropositional lines when processing the source, notation and target texts, with the explicature regularly having the same propositional form as the corresponding proposition in the source text.A key feature of all forms of interpreting is that the interpreters try to understand the source text's sense by processing its conceptual content rather than the words as such. In consecutive interpreting, this raises the question as to how the information extracted in the process is transmitted via the interim phase of note-taking to target text production. In the pre-cognitive view, under which note-taking is some kind of memory-supporting technique, the answers remain inconclusive due to an unclear conception of the underlying relationship between sense and its linguistic representation. This is where the cognitive theory of text and language processing comes in. From this perspective, the process of understanding is described as