Roughly $1600. That includes $200 for each of our two kids (gifts and stockings), $250 each for DH and I, $20 for each of the in-laws, $15 for each of the neices and nephews that are local, $25 each for our two distant neices, $35 each for gift baskets to my Mom and my Dad, family photos, Christmas Cards, postage, gift wrap, decorations, and food (feasting isn't cheap).
I would love to come up with a way to save some serious money on Christmas. I really wish we could stop exchanging gifts with our extended family! But that idea never seems to get very far.