As Jeff pointed out, its a total of the numbers.
Section Width/Aspect ratio/rim size
So a
345/75/16 is the following.
345 = section width (not the diameter) as measured from the widest point of the sidewall in mm.
75 = Aspect ratio. This means that the sidewall height is 75% of the section width. In this case 345*.75 = 258.75. Therefore the sidewall height is 258.75mm.
1 inch = 2.54cm (or 25.4mm)
Therefore a 16" rim = 406.4mm
So to get your total diameter:
Sidwall Height (X 2) + Rim
(258.75mm x 2) + 406.4mm = 923.9mm
so to convert mm to inches you divide by 25.4
923.9mm / 25.4 = 36.37inches
So a 345/75/16 is 36.37" tall