When did the two people see each other last?

W: Well, Bob James, what a surprise! It’s nice to see you again!
M: Hello, Margaret! My gosh! How long has it been? Wasn’t it a year ago Christmas, the last time we saw you?
W: You know, I think you’re right. How’s your wife and the kids?
M: Oh, they’re fine.

M: I hope you can understand my reasons for deciding to leave, Mrs. Wilson.
W: Do I have to remind you that we have invested a lot of time and money in your career here?