What is the best way of classifying different types of conditionals? According to what has become the traditional view, there is a substantive semantic difference between indicative conditionals and counterfactuals. Against this, it has been objected, primarily on grammatical grounds, that counterfactuals are merely past tense forms of indicative conditionals, expressing later what the corresponding indicative conditional expressed at an earlier time. In this paper, I argue that closer inspection of the linguistic evidence shows that the case for the past tense view founders. The traditional view has it right after all.