Found it on Wikepedia:
"Estimating distance of a lightning strike: The flash of a lightning strike and resulting thunder occur at roughly the same time. But light travels at 300,000 kilometers in a second, almost a million times the speed of sound. Sound travels at the slower speed of 330 m/s in the same time, so the flash of lightning is seen before thunder is heard. By counting the seconds between the flash and the thunder and dividing by 3, you can estimate your distance from the strike (in kilometers). Similarly, by dividing by 5, you can estimate the distance in miles."