What this means is that you are trying to print out/output a value which is at least partially uninitialized. Can you narrow it down so that you know exactly what value that is? After that, trace through your code to see where it is being initialized. Chances are, you will see that it is not being fully initialized.
If you need more help, posting the relevant sections of source code might allow someone to offer more guidance.
EDIT
I see you've found the problem. Note that valgrind watches for Conditional jump or move based on unitialized variables. What that means is that it will only give out a warning if the execution of the program is altered due to the uninitialized value (ie. the program takes a different branch in an if statement, for example). Since the actual arithmetic did not involve a conditional jump or move, valgrind did not warn you of that. Instead, it propagated the "uninitialized" status to the result of the statement that used it.
It may seem counterintuitive that it does not warn you immediately, but as mark4o pointed out, it does this because uninitialized values get used in C all the time (examples: padding in structures, the realloc()
call, etc.) so those warnings would not be very useful due to the false positive frequency.