I'm no expert but...there may be an issue in the medial meniscus (increased signal) but no apparent complete tear (those are the shock absorbers between the bones of your knee), there is thinning of your articular cartilage on the kneecap (may well have been there prior to the injury, common place for wear and tear), on the outside edge of your patella there is a bone spur (usually linked to some form of cartilage damage on the kneecap, could have happened along with the thinning - dare I ask how old you are?), and there are some pockets of fluid/cysts under the cartilage on your femur, around the kneecap joint and under the patella. What did you do to your knee? What pain do you have? Did you have issues around the kneecap/anterior areas prior to your injury?
You really need your doc to explain this in more detail and tell you if they recommend any surgery or if these can be managed conservatively..