EXHIBIT 11.1

HASBRO, INC. AND SUBSIDIARIES

Computation of Earnings Per Common Share

Nine Months Ended September 28, 2003 and September 29, 2002

(Thousands of Dollars and Shares Except Per Share Data)

				2003		2002
				-----------------		-----------------
				Basic	Diluted	Basic	Diluted
				-------	-------	-------	-------
Earnings before cumulative effect
	of accounting change			$ 98,421	98,421	12,902	12,902
Effect of dilutive securities:
	Change in fair value of liabilities potentially
	settleable in common stock			-	-	-	-
				------------	------------	------------	------------
Adjusted earnings before cumulative
	effect of accounting change			$  98,421	98,421	12,902	12,902
				=======	=======	=======	=======
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		554	554	155	155
		Assumed exercise of options and warrants		-	5,210	-	879
	Liabilities potentially settleable in
		common stock		-	-	-	-
				------------	------------	------------	------------
		Total		173,359	178,569	172,692	173,571
				=======	=======	=======	=======
Per common share:
	Earnings before cumulative effect
			of accounting change	$    0.57	0.55	0.07	0.07
				=======	=======	=======	=======