EXHIBIT 11.1

HASBRO, INC. AND SUBSIDIARIES

Computation of Earnings Per Common Share

Nine Months Ended September 26, 2004 and September 28, 2003

(Thousands of Dollars and Shares Except Per Share Data)

				2004			2003
				-----------------			-----------------
				Basic	Diluted		Basic	Diluted
				-------	-------		-------	-------
Earnings before cumulative effect
	of accounting change			$ 114,058	114,058		98,421	98,421
Effect of dilutive securities:
	Change in fair value of liabilities potentially
	settleable in common stock			-	(15,370	)	-	-
				------------	------------		------------	------------
Adjusted earnings before cumulative
	effect of accounting change			$114,058	98,688		98,421	98,421
				=======	=======		=======	=======
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		869	869		554	554
		Assumed exercise of options and warrants		-	2,488		-	5,210
	Liabilities potentially settleable in
		common stock		-	5,548		-	-
				------------	------------		------------	------------
		Total		176,348	184,384		173,359	178,569
				=======	=======		=======	=======
Per common share:
	Earnings before cumulative effect
			of accounting change	$    0.65	0.54		0.57	0.55
				=======	=======		=======	=======