What's the meaning of $544/119 = 4 + 68/119$?

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The Art Of Computer Programming Third Edition, page 4

While explaining Euclid's Greatest Common Divisor algorithm for the numbers $544$ and $119$, Knuth calculates the remainder of $544/119$ which is $68$ using: $544/119 = 4 + 68/119$. I don't understand this notation. What does $=$ mean in this case, mathematical assignment)? And how do $4$ and $68$ occur? Obviously the direct division $544/119$ gives the remainder $68$ but that's not what Knuth does.