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Default how do i convert data with miliseconds to just h:mm:ss

i have time data with hours, minutes, seconds, and miliseconds. but in order
to do my calculations, i need to drop the miliseconds. how can i format this
data so it will only display h:mm:ss?

example: if a cell reads 12:34:55:789, how do i format the cell so the 789
miliseconds drops off, and cell only shows 12:34:55?

i know this can be done in currency and numbers, as you can indicate how
many decimal places you want. so how do you do it with time?
 
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