A first principles-based model was developed for a transcritical CO2 gas cooler, using a finite element method. The model uses published correlations for refrigerant and airside heat transfer and pressure drop. Experimental results are presented at 48 operating conditions. The model predicted the gas cooler capacity within ±2% and pressure drop on the R-744 side well within the range of experimental error. The model's usefulness is demonstrated by analyzing alternative circuiting and multi-slab designs.