EXHIBIT 11.1

HASBRO, INC. AND SUBSIDIARIES

Computation of Earnings Per Common Share

Six Months Ended June 27, 2004 and June 29, 2003

(Thousands of Dollars and Shares Except Per Share Data)

			2004			2003
			-----------------			-----------------
			Basic	Diluted		Basic	Diluted
			-------	-------		-------	-------
Net earnings			$  25,371	25,371		12,606	12,606
Effect of dilutive securities:
	Change in fair value of liabilities potentially
	settleable in common stock		-	(10,220	)	-	-
			------------	------------		------------	------------
Adjusted net earnings			$  25,371	15,151		12,606	12,606
			=======	=======		=======	=======
Weighted average number of shares
outstanding:
	Outstanding at beginning of period		175,479	175,479		172,805	172,805
	Exercise of stock options and warrants:
	Actual exercise of options		600	600		317	317
	Assumed exercise of options and warrants		-	2,868		-	6,670
	Liabilities potentially settleable in
		common stock	-	5,363		-	-
			------------	------------		------------	------------
		Total	176,079	184,310		173,122	179,792
			=======	=======		=======	=======
Per common share:
	Net earnings		$      0.14	0.08		0.07	0.07
			=======	=======		=======	=======