Where N represents the number of stars in the Milky Way Galaxy -
fp is the fraction of stars that have planets around them;
ne is the number of planets per star that are capable of sustaining life;
fl is the fraction of planets in ne where life evolves;
fi is the fraction of fl where intelligent life evolves;
fc is the fraction of fi that communicate;
fL is fraction of the planet's life during which the communicating civilizations live;
to arrive at N - the number of communicating civilizations in the galaxy.
LINKS:
The Drake Equation The SETI Institute
Approved by Dr. Frank D. Drake The Extrasolar Planetary Foundation
Sing the Drake Equation The SETI League