The code initializes a boolean variable 'checkOut' to true and an integer variable 'days' to 0. It then enters a while loop that continues as long as 'checkOut' is true. Inside the loop, 'days' is incremented by 1 on each iteration. When 'days' becomes greater than 3, 'checkOut' is set to false, ending the loop. At this point, 'days' is 4, so 'System.out.print(days);' will output 4.