Teachers' understandings of feedback probably influence the type and quality of feedback that they provide. The beliefs of 518 New Zealand practicing teachers about feedback were evaluated with the "Teachers' Conceptions of Feedback" (TCoF) inventory and related to practices these teachers considered to be feedback. Nine feedback factors and four practices factors were found and models were statistically invariant between primary and secondary teachers. New Zealand teachers' understandings of feedback were strongly focused on improving learning instead of enhancing student well-being. Similar factors are expected in other contexts, though agreement rates should reflect local policy priorities and cultural values. (Contains 1 figure and 4 tables.)