$ time foo
real 0m0.003s
user 0m0.000s
sys 0m0.004s
$
What do \'real\', \'user\' and \'sys\' mean in the output of time?
To expand on the accepted answer, I just wanted to provide another reason why real ≠ user + sys.
Keep in mind that real represents actual elapsed time, while user and sys values represent CPU execution time. As a result, on a multicore system, the user and/or sys time (as well as their sum) can actually exceed the real time. For example, on a Java app I'm running for class I get this set of values:
real 1m47.363s
user 2m41.318s
sys 0m4.013s