These components represent the physical states of the reactants and the products.
x→(s)
y→(aq)
Pb(NO3)2(aq)+2KI(aq)→PbI2(s)+2KNO3(aq)
Above reaction is a precipitation and a double displacement reaction in which solid precipitates of lead iodide are formed. Therefore x represents solid (s) form of lead iodide and y represents aqueous (aq) form of potassium nitrate.