Pace is time per distance, the way runners count: minutes and seconds per kilometre or per mile. It is the inverse of speed, so 5:00 per km is 12 km/h. Give the calculator any two of distance, finish time and pace and it works out the third, in both units at once.
The arithmetic. Pace is the finish time divided by the distance. A 3:30:00 marathon is 12,600 seconds over 42.195 km, which is 298.6 seconds, or 4:58.6 per km. Per mile, multiply by 1.609344: 8:00.6. Finish time is pace × distance, and distance is time ÷ pace.
Race distances. The presets use the official road distances: 5 km, 10 km, the half marathon (21.0975 km, 13.11 miles) and the marathon (42.195 km, 26.22 miles). Those extra 195 metres matter: at 5:00 per km they are another minute on the clock, and a GPS watch usually reads a little long over a real course, so a target pace needs some margin.
Splits. The table shows where an even pace puts you at every kilometre or mile, which you can write on a wristband. Most runners run their best races close to even or slightly faster in the second half (a negative split); going out faster than goal pace usually costs more time late in the race than it saved early.