Research with preschool children shows that explanations are important to them in that they actively seek explanations in their conversations with adults. But, what sorts of explanations do they prefer, and what, if anything, do young children learn from the explanations they receive? Following a preliminary study with adults (N=67) to establish materials for use with children, we addressed this question using a semi-naturalistic methodology. 4- and 5-year-olds (N=69) were dissatisfied when receiving non-explanations to their explanatory questions, but satisfied when receiving explanations, and their satisfaction varied appropriately across several levels of explanatory information. Moreover, using recall as a measure of learning, whereas children typically failed to recall non-explanations, their recall of explanatory information was consistently high and also varied appropriately across differing levels of information provided. These results confirm that children not only actively seek informative explanations in their everyday conversational interactions with adults, they selectively retain the answers they receive.