Cognitive theory holds that dysfunctional attitudes are important risk factors for depression. Critics have questioned this view, noting that, although dysfunctional attitudes are elevated in depression, they are not evident in vulnerable individuals who are asymptomatic. To deal with this criticism, Miranda and Persons (1988) have advanced the mood-state dependent hypothesis, which suggests that cognitive vulnerability factors are indeed present in vulnerable individuals, but remain dormant until activated by negative mood. To test this hypothesis, 33 women with and 67 women without histories of depression reported dysfunctional attitudes before and after a film negative mood induction. As predicted, vulnerable subjects who reported increased negative mood reported increased dysfunctional attitudes. Unexpectedly, nonvulnerable subjects who reported increased negative mood reported decreased dysfunctional attitudes. These findings support the mood- state dependent hypothesis, and suggest that a deficit in the ability to regulate negative emotions may be an important feature of vulnerability to depression.