TO->Alt. is the climb to the En Route altitude. Alt.->SHP is the subsequent short stage at that altitude to reach the Set Heading Point. Each subsequent column is a Way Point transit (SHP->First, First->Second, etc.). Not shown is a column that registers the Descent Point (which the spreadsheet does not calculate) and a column that tries to account for the details of entering the pattern, landing, and taxiing at the Arrival (Destination) Field.
The Alt->SHP, SHP->WP, WP->WP, and WP->DP legs all use the cruise information (appropriately interpolated along the way from weather information that must be provided at Take Off and Arrival fields and may be provided at some of the Way Points in between).