diff --git a/BREAKING_CHANGES.md b/BREAKING_CHANGES.md
index 0d09aca6cd..99d5a99a15 100644
--- a/BREAKING_CHANGES.md
+++ b/BREAKING_CHANGES.md
@@ -1,5 +1,37 @@
 # Breaking Changes
 
+## Unreleased
+
+### `select`, `extend-select`, `ignore`, and `extend-ignore` have new semantics ([#2312](https://github.com/charliermarsh/ruff/pull/2312))
+
+Previously, the interplay between `select` and its related options could lead to unexpected
+behavior. For example, `ruff --select E501 --ignore ALL` and `ruff --select E501 --extend-ignore
+ALL` behaved differently. (See [#2312](https://github.com/charliermarsh/ruff/pull/2312) for more
+examples.)
+
+When Ruff determines the enabled rule set, it has to reconcile `select` and `ignore` from a variety
+of sources, including the current `pyproject.toml`, any inherited `pyproject.toml` files, and the
+CLI.
+
+The new semantics are such that Ruff uses the "highest-priority" `select` as the basis for the rule
+set, and then applies any `extend-select`, `ignore`, and `extend-ignore` adjustments. CLI options
+are given higher priority than `pyproject.toml` options, and the current `pyproject.toml` file is
+given higher priority than any inherited `pyproject.toml` files.
+
+`extend-select` and `extend-ignore` are no longer given "top priority"; instead, they merely append
+to the `select` and `ignore` lists, as in Flake8.
+
+This change is largely backwards compatible -- most users should experience no change in behavior.
+However, as an example of a breaking change, consider the following:
+
+```toml
+[tool.ruff]
+ignore = ["F401"]
+```
+
+Running `ruff --select F` would previously have enabled all `F` rules, apart from `F401`. Now, it
+will enable all `F` rules, including `F401`, as the command line's `--select` resets the resolution.
+
 ## 0.0.237
 
 ### `--explain`, `--clean`, and `--generate-shell-completion` are now subcommands ([#2190](https://github.com/charliermarsh/ruff/pull/2190))
diff --git a/README.md b/README.md
index 3208b10850..f82ed5e293 100644
--- a/README.md
+++ b/README.md
@@ -528,6 +528,33 @@ By default, Ruff will also skip any files that are omitted via `.ignore`, `.giti
 Files that are passed to `ruff` directly are always linted, regardless of the above criteria.
 For example, `ruff /path/to/excluded/file.py` will always lint `file.py`.
 
+### Rule resolution
+
+The set of enabled rules is controlled via the [`select`](#select) and [`ignore`](#ignore) settings,
+along with the [`extend-select`](#extend-select) and [`extend-ignore`](#extend-ignore) modifiers.
+
+To resolve the enabled rule set, Ruff may need to reconcile `select` and `ignore` from a variety
+of sources, including the current `pyproject.toml`, any inherited `pyproject.toml` files, and the
+CLI (e.g., `--select`).
+
+In those scenarios, Ruff uses the "highest-priority" `select` as the basis for the rule set, and
+then applies any `extend-select`, `ignore`, and `extend-ignore` adjustments. CLI options are given
+higher priority than `pyproject.toml` options, and the current `pyproject.toml` file is given higher
+priority than any inherited `pyproject.toml` files.
+
+For example, given the following `pyproject.toml` file:
+
+```toml
+[tool.ruff]
+select = ["E", "F"]
+ignore = ["F401"]
+```
+
+Running `ruff --select F401` would result in Ruff enforcing `F401`, and no other rules.
+
+Running `ruff --extend-select B` would result in Ruff enforcing the `E`, `F`, and `B` rules, with
+the exception of `F401`.
+
 ### Ignoring errors
 
 To omit a lint rule entirely, add it to the "ignore" list via [`ignore`](#ignore) or