Abstract: Disclosed herein are aqueous dispersions of blocked hydrophilic polyether urethane prepolymers and codispersions thereof with synthetic polymer latices. Also disclosed are methods of preparing the dispersions as well as polyurethane coatings and films prepared therewith. The dispersion/codispersions are characterized by good mechanical stability and resistance to freeze - thaw cycles. Coatings, films and impregnated articles prepared therefrom possess good physical properties. Coatings and films prepared from codispersions containing acrylic latex possess physical properties, chemical solvent resistance, etc. comparable to solvent-based urethanes.