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Notes: Dynamic predictive deconvolution makes use of an entire seismic trace including all primary and multiple reflections to yield an approximation to the subsurface structure. We consider plane-wave motion at normal incidence in an horizontally layered system sandwiched between the air and the basement rock. Energy degradation effects are neglected so that the layered system represents a lossless system in which energy is lost only by net transmission downward into the basement or net reflection upward into the air; there is no internal loss of energy by absorption within the layers. The layered system is frequency selective in that the energy from a surface input is divided between that energy which is accepted over time by net transmission downward into the basement and the remaining energy that is rejected over time by net reflection upward into the air. Thus the energy from a downgoing unit spike at the surface as input is divided between the wave transmitted by the layered system into the basement and the wave reflected by the layered system into the air. This reflected wave is the observed seismic trace resulting from the unit spike input. From surface measurements we can compute both the input energy spectrum, which by assumption is unity, and the reflection energy spectrum, which is the energy spectrum of the trace. But, by the conservation of energy, the input energy spectrum is equal to the sum of the reflection energy spectrum and the transmission energy spectrum. Thus we can compute the transmission energy spectrum as the difference of the input energy spectrum and the reflection energy spectrum. Furthermore, we know that the layered system acts as a pure feedback system in producing the transmitted wave, from which it follows that the transmitted wave is minimum-delay. Hence from the computed energy spectrum of the transmitted wave we can compute the prediction-error operator that contracts the transmitted wave to a spike. We also know that the layered system acts as a system with both a feedback component and a feed-forward component in producing the reflected wave, that is, the observed seismic trace. Moreover, this feedback component is identical to the pure feedback system that produces the transmitted wave. Thus, we can deconvolve the observed seismic trace by the prediction-error operator computed above; the result of the deconvolution is the wave-form due to the feedforward component alone. Now the feedforward component represents the wanted dynamic structure of the layered system whereas the feedback component represents the unwanted reverberatory effects of the layered system. Because this deconvolution process yields the wanted dynamic structure and destroys the unwanted reverberatory effects, we call the process dynamic predictive deconvolution. The resulting feedforward waveform in itself represents an approximation to the subsurface structure; a further decomposition yields the reflection coefficients of the interfaces separating the layers. In this work we do not make the assumption as is commonly done that the surface as a perfect reflector; that is, we do not assume that the surface reflection coefficient has magnitude unity.