Lex is shot by muggers on Christmas Eve and, while unconscious, dreams that he has become a middle-class family man who's happily married to Lana. Meanwhile, Clark plays Santa Claus to underprivileged youngsters and, in so doing, impresses a depressed sidewalk Santa.

Lex and Lana are at the mercy of a deranged Smallville deputy who plans to keep them captive until Lex reveals the location of the Kryptonian spaceship. Meanwhile, the Kents can't see eye-to-eye on campaign financing.