EXHIBIT 12.1
HASBRO, INC. AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
Fiscal Years Ended in December
(Thousands of Dollars)
<Table>
<Caption>
Fiscal Years
-------------------------------------------
Pro Forma
2001 2001 2000 1999 1998 1997
--------- ---- ---- ---- ---- ----
Earnings available for
fixed charges:
Net earnings (loss) $ 67,736 59,732 (144,631) 188,953 206,365 134,986
Add:
Cumulative effect of
accounting change 1,066 1,066 - - - -
Fixed charges 113,658 126,323 135,302 88,456 53,209 43,893
Taxes on income 40,062 35,401 (81,355) 84,892 97,113 69,539
------- ------- ------- ------- ------- -------
Total $222,522 222,522 (90,684) 362,301 356,687 248,418
======= ======= ======= ======= ======= =======
Fixed charges:
Interest on long-term
debt $ 73,600 86,244 74,206 25,068 9,688 7,348
Other interest charges 17,444 17,444 40,215 44,272 26,423 20,138
Amortization of debt
expense 3,010 3,031 1,724 425 121 377
Rental expense
representative of
interest factor 19,604 19,604 19,157 18,691 16,977 16,030
------- ------- ------- ------- ------- -------
Total $113,658 126,323 135,302 88,456 53,209 43,893
======= ======= ======= ======= ======= =======
Ratio of earnings to
fixed charges 1.96 1.76 (0.67) 4.10 6.70 5.66
======= ======= ======= ======= ======= =======
</Table>