In this article, a way to study subject content through analysis of practice near texts (for example local curriculum documents) is presented. With a point of departure in Dewey’s transactional perspective on meaning making as well as a discourse theoretical position, the article suggests that results of pragmatic analysis’ can be considered as investigations of the institutional content and conditions of meaning making. The results of an analysed text content can consequently be discussed as part of meaning making processes. As an example of the approach, results from a study of health in physical education is presented.