Methods for predicting a high dynamic range (HDR) image element based on a received low dynamic range (LDR) image element or data and a HDR image element or data. LDR data is extracted to create either a color-converted image element or a LDR image luminance element and a LDR image chrominance element. The created image element or elements are modified either based on prediction data or through a luminance modification operation and a chrominance modification operation. The HDR residual image element is then combined with either a HDR prediction image element or a HDR luminance prediction element and a HDR chrominance prediction element to form an HDR image element. Alternatively, a residual HDR image element may be calculated through a comparison operation.