You can see these definitions in the top level Makefile of the Linux source tree. I pulled these from a 3.x series kernel source:
986 define filechk_version.h
987 (echo \#define LINUX_VERSION_CODE $(shell \
988 expr $(VERSION) \* 65536 + $(PATCHLEVEL) \* 256 + $(SUBLEVEL)); \
989 echo '#define KERNEL_VERSION(a,b,c) (((a) << 16) + ((b) << 8) + (c))';)
But anyway, your program is probably printing the user-space value defined in /usr/include/linux/version.h. So what's in there? 132116 ? On my system, the value is equivalent to 3.0.14, which is NOT the running kernel version. Rather, it is the version associated with the Linux headers when they got installed. I have since moved on to 3.0.16, but no one (not a package nor me) has updated the headers, I guess.
Particularly, an update to that file (<linux/version.h>) would result from running a make headers_install in the linux source tree.