Aerobic respiration is the breakdown of glucose to release energy in a form which every cell can use in the presence of oxygen. You receive significantly more energy (up to 19 times as much) through respiring aerobically as opposed to anaerobically.
The equation is:
Glucose + Oxygen --> Carbondioxide + Water + (Energy)
C6H12O6 + 6O2 --> 6CO2 + 6H2O + (Energy)