Dirkgently gives an excellent description of integer division in C99, but you should also know that in C89 integer division with a negative operand has an implementation-defined direction.
From the ANSI C draft (3.3.5):
If either operand is negative, whether the result of the / operator is the largest integer less than the algebraic quotient or the smallest integer greater than the algebraic quotient is implementation-defined, as is the sign of the result of the % operator. If the quotient a/b is representable, the expression (a/b)*b + a%b shall equal a.
So watch out with negative numbers when you are stuck with a C89 compiler.
It's a fun fact that C99 chose truncation towards zero because that was how FORTRAN did it. See this message on comp.std.c.