What Does Lumbar Spondylosis With Disc Degeneration Mean?

Dear Sir
last week i fell down on to floor and my back was on floor..After that I consulted the doctor and he said everything is Ok but asked me to take X-ray..Today I got the X-ray and doctor told some accidental finding im my report...I am writing the whole wording....
LUMBOSACRAL SPINE
there is normal lordosis noted.Bony alignment is within normal limits..Narrowing of the L5/S1 disc space is seen..Bony texture is within normal limits..
COMMENTS:
lumbar spondylosis with disc degeneration present at L5/S1levels...
Plz convey me whether it is Ok..One more thing I want to tell you that nearly 8 months back I lifted a heavy bag and after that some time I feel some pain inmiddle of my back if i work in bending position for 1-2 hrs...
During my PhD i used to do a lot of work on computer..can you plz help me sorting out my problem???????whether it is ok or some serious problem??/