EXHIBIT 11.1

HASBRO, INC. AND SUBSIDIARIES

Computation of Earnings Per Common Share

Six Months Ended June 30, 2002 and July 1, 2001

(Thousands of Dollars and Shares Except Per Share Data)

				2002				2001
				-----------------				-----------------
				Basic		Diluted		Basic		Diluted
				-------		-------		-------		-------
Net earnings (loss) before cumulative effect
	of accounting change			$(42,946	)	(42,946	)	(42,289	)	(42,289	)
				=======		=======		=======		=======
Weighted average number of shares
outstanding:
	Outstanding at beginning of period			172,537		172,537		171,886		171,886
	Exercise of stock options and warrants:
		Actual		122		122		92		92
		Assumed		-		-		-		-
				------------		------------		------------		------------
		Total		172,659		172,659		171,978		171,978
				=======		=======		=======		=======
Per common share:
	Net earnings (loss) before cumulative effect
			of accounting change	$      (.25	)	(.25	)	(.25	)	(.25	)
				=======		=======		=======		=======