Hi Kevin,
It would be difficult to explain this formula as a whole, but we can dissect the whole formula so it would be easier for you to understand.
The whole formula is composed of three substring functions separated by spaces (" ").
substring(text, starting position, character count)
text represents which field you are taking the value from,
the second value is the character count where the returned value will start from
last value is the number of characters which will be returned starting from the
using spaghetti as a sample word and a formula substring(field1, 4, 3), this formula will return a value of ghe since G is the fourth letter and from there, it will return 3 letters, in this case GHE.
The first substring from you formula, the character count is represented by another formula which uses a string-length function with a subtraction operator. This would mean the total character count of the current field (represented by a dot), minus a value which can either be constant or dynamic if you will be using a field.
substring(., #, string-length(.) - #)
The second and third substring formulas are similar, however this time the string-length function is used for the character count where the returned value will start from.
I hope this makes sense.