What drove the fluctuations in JNJ's operating expenses in 2023?

Johnson & Johnson's (JNJ) operating expenses for 2023 were not provided in the available data. However, the latest data from December 31, 2023, shows an operating expense of $163.71.

The fluctuations in JNJ's operating expenses in 2023 can be attributed to several factors:

1. **Cost of Products Sold Margin**: There was a flat cost of products sold margin due to favorable patient mix and lower COVID-19 vaccine supply network-related exit costs in the Innovative Medicine business. This was partially offset by commodity-related inflation and supply chain disruptions.
2. **Stereotaxis, Inc. (AMEX:STXS) Q2 2023 Earnings Call Transcript**: The J&J catheter shortage has been largely resolved, and we expect procedures to rebound to normal levels in the third quarter. This could have led to increased operating expenses related to the production and supply of catheters.
3. **Kenvue Separation**: The separation of Johnson & Johnson's Consumer Health business from the company could have led to changes in operating expenses as the company prepares for two separate entities. This separation is expected to be completed, and once it is, Johnson & Johnson will provide updated guidance that reflects the removal of the Consumer Health segment's contribution.
4. **Pharmaceuticals, MedTech, and Consumer Health Segments**: Johnson & Johnson's guidance for the full year 2023 included the expectation of operational sales growth in the range of 4.5% to 5.5% or $96.9 billion to $99.1 billion. This growth could have led to increased operating expenses as the company invests in its different segments to achieve this growth.

In conclusion, the fluctuations in JNJ's operating expenses in 2023 were likely driven by a combination of factors including cost of products sold margin, Stereotaxis, Inc. (AMEX:STXS) Q2 2023 Earnings Call Transcript, Kenvue Separation and the company's strategic plans for its different segments.