EXHIBIT 12 HASBRO, INC. AND SUBSIDIARIES Computation of Ratio of Earnings to Fixed Charges Fiscal Years Ended in December (Thousands of Dollars) 1998 1997 1996 1995 1994 ---- ---- ---- ---- ---- Earnings available for fixed charges: Net earnings $206,365 134,986 199,912 155,571 175,033 Add: Cumulative effect of change in accounting principles - - - - 4,282 Fixed charges 53,209 43,893 47,174 52,422 44,280 Taxes on income 97,113 69,539 106,981 96,979 112,254 ------- ------- ------- ------- ------- Total $356,687 248,418 354,067 304,972 335,849 ======= ======= ======= ======= ======= Fixed charges: Interest on long-term debt $ 9,688 7,348 9,258 9,267 11,179 Other interest charges 26,423 20,138 22,207 28,321 19,610 Amortization of debt expense 121 377 339 339 429 Rental expense representa- tive of interest factor 16,977 16,030 15,370 14,495 13,062 ------- ------- ------- ------- ------- Total $ 53,209 43,893 47,174 52,422 44,280 ======= ======= ======= ======= ======= Ratio of earnings to fixed charges 6.70 5.66 7.51 5.82 7.58 ======= ======= ======= ======= =======