In high-speed rolling element bearings (REB), the lubricant is used to separate the mating surfaces but also to cool down the parts while the system is in operation. In the context of optimizing oil circuits, a clear understanding of the lubricant cooling mechanisms is therefore required in order to reach a compromise between a good cooling capacity and the constraints on mass, size, and power. In this article, a model is presented that makes it possible to predict temperature distributions in high-speed thrust ball bearings. It is found that the prediction or measurement of global power loss cannot discriminate between several combinations of traction and drag forces. On the other hand, the predicted temperature distributions appear as very sensitive to the relative importance given to hydrodynamic rolling tractions or drag losses. Based on these findings, a methodology is suggested in order to define the most realistic power loss models to be used in high-speed REB simulations.