Dynamic testing of statically predeformed specimens of magnesium (AM50) shows that the failure strain increases with the level of prestrain. Interrupted and other dynamic tests show that the temperature rise prior to localization has only a minor influence on adiabatic shear band (ASB) formation. For all the tests, the dynamic deformation energy until ASB formation is found to be relatively constant, indicating that ASB is dependent almost solely on dynamic deformation processes, with quasistatic and thermal effects prior to localization being very marginal. We suggest the concept of a constant dynamic mechanical energy (toughness) as a quantitative criterion for ASB formation--this concept being related physically to the dynamic stored energy of cold work. All in all, the tests indicate that ASB failure is more dependent on energy considerations that on strain criteria, as has been considered until now.