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tasmin-sati-śvāsa-praśvāsayoḥ gati-vicchedaḥ prāṇāyāmaḥ
तस्मिन् सति श्वासप्रश्वास्योर्गतिविच्छेदः प्राणायामः
Being in this, dividing the motion of the inhalation and the exhalation is extending the breath
tasmin - in this
sati - being
śvāsa - inhalation
praśvāsā - exhalation
gati - going, moving, gait, deportment, motion in general
viccheda - dividing
prāṇāyāma - extending the breath
Commentary by TKV Desikachar:
It is possible only after a reasonable mastery of Āsana Practice. Prāṇāyāma leads to this. Pratyāhāra, to see without the senses distracting or pulling the mind, and Dhāraṇā, to see without the mind losing itself, because of colouring or expectations. Dhyānam arises out of this.