The plot for “Mary Poppins Returns” has been revealed, and we’re already breaking out in song!

It’s finally here: the plot for Mary Poppins Returns has been revealed. Break out your spoons full of sugar, because it’s going to be a great movie.

Even before the storyline was revealed, we’ve been impatiently waiting for Mary Poppins Returns to hit theaters. Sadly, it’s not coming for another year — December 2018 to be exact — but now we have details.

On Friday, Walt Disney Studios announced that production has officially begun on the Marry Poppins sequel. Seriously, our excitement level is at an all-time high right now. We don’t know what to do with this information.

As for what we can expect from the new journey of our favorite nanny, we also got some intel on that as well.

The sequel stars Colin Firth, Lin Manuel-Miranda, Meryl Streep, Julie Walters, Emily Mortimer, Ben Whishaw, and Emily Blunt as the lead, Mary Poppins!

It won’t exactly pick up where the 1964 film, which starred Julie Andrews and Dick Van Dyke, left off, but it will continue the story in a few ways.

This installment will take place in 1930s London, during the depression-era, so get ready for a trip to the past.

“Michael and Jane [Banks] are now grown up, with Michael, his three children and their housekeeper, Ellen, living on Cherry Tree Lane,” Walt Disney Studios explained in the statement.

"After Michael suffers a personal loss, the enigmatic nanny Mary Poppins re-enters the lives of the Banks family, and, along with the optimistic street lamplighter Jack, uses her unique magical skills to help the family rediscover the joy and wonder missing in their lives," the statement said.

Within the movie, the coolest nanny around will introduce the new generation “to a new assortment of colorful and whimsical characters, including her eccentric cousin, Topsy (played by Streep).”

Mary Poppins Returns is set to hit theaters on December 25th, 2018, so Merry Christmas to us!