UTXO (unspent transaction output)
An output that has been received but not yet spent. Your wallet's balance is the total of all the UTXOs it can spend.
Example: A Bitcoin wallet has spendable outputs of 0.003 and 0.002 BTC. Together they total 0.005 BTC before considering the fee and conditions of a new transaction.
Keep in mind: Spendable outputs are subject to their conditions and transaction fees. A visible balance need not all be immediately spendable.