Considering a year to be 1⁄19 of this 6,940-day cycle gives a year length of 365 + 1⁄4 + 1⁄76 days (the unrounded cycle is much more accurate), which is about 11 days more than 12 synodic months. To keep a 12-month lunar year in pace with the solar year, an intercalary 13th month would have to be added on seven occasions during the nineteen-year period (235 = 19 × 12 + 7). When Meton introduced the cycle around 432 BC, it was already known by Babylonian astronomers.
A mechanical computation of the cycle is built into the Antikythera mechanism.
The cycle was used in the Babylonian calendar, ancient Chinese calendar systems (the 'Rule Cycle' 章) and the medieval computus (i.e. the calculation of the date of Easter). It regulates the 19-year cycle of intercalary months of the modern Hebrew calendar. The start of the Metonic cycle depends on which of these systems is being used; for Easter, the first year of the current Metonic cycle is 2014.
At the time of Meton, axial precession had not yet been discovered, and he could not distinguish between sidereal years (currently: 365.256363 days) and tropical years (currently: 365.242190 days). Most calendars, like the commonly used Gregorian calendar, are based on the tropical year and maintain the seasons at the same calendar times each year. Nineteen tropical years are about two hours shorter than 235 synodic months. The Metonic cycle's error is, therefore, one full day every 219 years, or 12.4 parts per million.
Note that the 19-year cycle is also close (to somewhat more than half a day) to 255 draconic months, so it is also an eclipse cycle, which lasts only for about 4 or 5 recurrences of eclipses. The Octon is 1⁄5 of a Metonic cycle (47 synodic months, 3.8 years), and it recurs about 20 to 25 cycles.