If you have X% of the eligible voters you will have X% of the seats. Modified to guaranty that every region has one seat.
Votes are the number of eligible voters in the last election expressed in the thousands.
Seats are the number of seats to 2 decimal places.
Drop is dropping the decimal remainder leaving you with 296 seats.
Adjust is the adjustment of adding 4 seats to bring the total to 300. The 3 Territories each get 1 since every province or territory is guarantied at least 1 seat. The remaining 1 seat adjustment goes to New Brunswick since it is the one with the highest decimal remainder.
Final is the seat count after the adjustment.
The Federalist party of Canada 