How to read the output of gcc -v

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If I run gcc -v or g++ -v I get below results.

gcc version 4.4.7 20120313 (Red Hat 4.4.7-16) (GCC)

How do I understand this?

What is (Red Hat 4.4.7-16) and what is (GCC)

Is it the OS on which this version of gcc is compiled or the is the Generation of the OS on which this version of GCC is compatible with?

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