EXHIBIT 11.1

HASBRO, INC. AND SUBSIDIARIES

Computation of Earnings Per Common Share

Six Months Ended July 1, 2001 and July 2, 2000

(Thousands of Dollars and Shares Except Per Share Data)

				2001				2000
				-----------------				-----------------
				Basic		Diluted		Basic		Diluted
				-------		-------		-------		-------
Net earnings (loss) before cumulative effect
	of accounting change			$(42,289	)	(42,289	)	21,627		21,627
				=======		=======		=======		=======
Weighted average number of shares
outstanding:
	Outstanding at beginning of period			171,886		171,886		192,984		192,984
	Exercise of stock options and warrants:
		Actual		92		92		26		26
		Assumed		-		-		-		947
	Purchase of common stock			-		-		(12,085	)	(12,085	)
				------------		------------		------------		------------
		Total		171,978		171,978		180,925		181,872
				=======		=======		=======		=======
Per common share:
	Net earnings (loss) before cumulative effect
			of accounting change	$      (.25	)	(.25	)	.12		.12
				=======		=======		=======		=======