After college, Will is having problems getting a good, lasting job, as are his roomies, his girlfriend, and his just-fired dad.

Ethan (Joseph Gordon-Levitt), Isaac (Seth Rogen) and Chris (Anthony Mackie) have been friends since childhood, and for a decade, their yearly Christmas Eve reunion has been an annual night of debauchery and hilarity. Now that they're entering adulthood, the tradition is coming to an end, and to make it as memorable as possible, they set out to find the Nutcracka Ball - the Holy Grail of Christmas parties.