Each of the four elements buffers one bit independently, with the output going high-impedance when the corresponding output-enable pin is asserted. The 32 mA source and 64 mA sink drive capability is enough to fan out to multiple 3.3V CMOS loads or drive a single TTL input with healthy margin.
32 mA source, 64 mA sink — what the drive numbers actually mean
The asymmetric drive reflects the 74LVTH family's BiCMOS output stage: the NPN pull-down sinks more current than the CMOS pull-up sources. In practice, this means the buffer can drive a terminated transmission line on the low side without struggle, but the high-side is limited. If you need to drive a 50-ohm backplane trace at 3.3V, the 32 mA source will hit its limit at roughly a 100-ohm Thevenin termination — check the DC load line. For ordinary CMOS fan-out (a few pF per gate), both edges are fine up to 100 MHz or so. The 3-state output lets multiple buffers share a bus; just mind the turn-on/turn-off timing if you're doing hot-swap or bidirectional muxing.
For the BOM cost engineer, this means no single-source risk from obsolescence — the 74LVTH family is a mature 3.3V logic line with broad second-source overlap from TI and others. The package is the standard narrow 14-SOIC, so the footprint matches any SOIC-14 buffer or line driver in the same supply class.
14-SOIC — the footprint that fits
The 14-SOIC package measures 3.90 mm body width — the narrow variant, not the wide SOIC-14 that some logic families use. If your board already has a land pattern for a 74LVC125A or 74AHCT125 in SOIC-14, this part drops in without a layout change.