You are correct, that's exactly what that code does. Except, as Xander pointed out, you have the third part backwards. It subtracts edepSum*edepSum from the original value of edepSum2. I can't believe I didn't see that, thanks, Xander314.
The third line implies that the previous value of edepSum2 is subtracted from edepSum*edepSum and the subtraction result is stored in edepSum2.
Surely it should be "the value of edepSum*edepSum is subtracted from the previous value of edepSum2 and the subtraction result is stored in edebSum2", and not the other way round. Perhaps this was just a typo?