prāṇān

येषामर्थे काङ्क्षितं नो राज्यं भोगाः सुखानि च

prāṇān — lives

Those for whose sake we would want a kingdom, and pleasures, and happiness — they are the ones standing here, ready to give up their lives and their wealth:

अपाने जुह्वति प्राण प्राणेऽपानं तथाऽपरे

prāṇam — the outgoing breath

Others offer the outgoing breath into the incoming, and the incoming into the outgoing, holding both still, intent on the breath.

अपरे नियताहाराः प्राणान्प्राणेषु जुह्वति

prāṇān — outgoing air

Others eat sparingly and offer breath into breath. All of these know what an offering is, and their wrongs are consumed by it.