EXHIBIT 11.1

HASBRO, INC. AND SUBSIDIARIES

Computation of Earnings Per Common Share

Six Months Ended June 29, 2003 and June 30, 2002

(Thousands of Dollars and Shares Except Per Share Data)

				2003		2002
				-----------------		-----------------
				Basic	Diluted	Basic		Diluted
				-------	-------	-------		-------
Net earnings (loss) before cumulative effect
	of accounting change			$12,606	12,606	(42,946	)	(42,946	)
				=======	=======	=======		=======
Weighted average number of shares
outstanding:
	Outstanding at beginning of period			172,805	172,805	172,537		172,537
	Exercise of stock options and warrants:
		Actual exercise of options		317	317	122		122
		Assumed exercise of warrants		-	5,870	-		-
		Assumed exercise of options		-	800	-		-
				------------	------------	------------		------------
		Total		173,122	179,792	172,659		172,659
				=======	=======	=======		=======
Per common share:
	Net earnings (loss) before cumulative effect
			of accounting change	$      .07	.07	(.25	)	(.25	)
				=======	=======	=======		=======