For the last 10 years, lifelong buddies Ethan (Joseph Gordon-Levitt), Isaac (Seth Rogen) and Chris (Anthony Mackie) have gathered on Christmas Eve to celebrate the holidays with a bang. As Isaac prepares to become a first-time father, the friends realize that their annual tradition is coming to a sad end. To make it as memorable as possible, they plan a night of debauchery and hilarity by searching for the Nutcracka Ball, the Holy Grail of Christmas parties in New York.