diff --git a/block/blk-iocost.c b/block/blk-iocost.c
index 61b008d0801f..ecc23b827e5d 100644
--- a/block/blk-iocost.c
+++ b/block/blk-iocost.c
@@ -491,9 +491,11 @@ struct ioc_gq {
 	/* see __propagate_weights() and current_hweight() for details */
 	u64				child_active_sum;
 	u64				child_inuse_sum;
+	u64				child_adjusted_sum;
 	int				hweight_gen;
 	u32				hweight_active;
 	u32				hweight_inuse;
+	u32				hweight_donating;
 	u32				hweight_after_donation;
 
 	struct list_head		walk_list;
@@ -1551,20 +1553,252 @@ static u32 hweight_after_donation(struct ioc_gq *iocg, u32 hwm, u32 usage,
 	return usage;
 }
 
+/*
+ * For work-conservation, an iocg which isn't using all of its share should
+ * donate the leftover to other iocgs. There are two ways to achieve this - 1.
+ * bumping up vrate accordingly 2. lowering the donating iocg's inuse weight.
+ *
+ * #1 is mathematically simpler but has the drawback of requiring synchronous
+ * global hweight_inuse updates when idle iocg's get activated or inuse weights
+ * change due to donation snapbacks as it has the possibility of grossly
+ * overshooting what's allowed by the model and vrate.
+ *
+ * #2 is inherently safe with local operations. The donating iocg can easily
+ * snap back to higher weights when needed without worrying about impacts on
+ * other nodes as the impacts will be inherently correct. This also makes idle
+ * iocg activations safe. The only effect activations have is decreasing
+ * hweight_inuse of others, the right solution to which is for those iocgs to
+ * snap back to higher weights.
+ *
+ * So, we go with #2. The challenge is calculating how each donating iocg's
+ * inuse should be adjusted to achieve the target donation amounts. This is done
+ * using Andy's method described in the following pdf.
+ *
+ *   https://drive.google.com/file/d/1PsJwxPFtjUnwOY1QJ5AeICCcsL7BM3bo
+ *
+ * Given the weights and target after-donation hweight_inuse values, Andy's
+ * method determines how the proportional distribution should look like at each
+ * sibling level to maintain the relative relationship between all non-donating
+ * pairs. To roughly summarize, it divides the tree into donating and
+ * non-donating parts, calculates global donation rate which is used to
+ * determine the target hweight_inuse for each node, and then derives per-level
+ * proportions.
+ *
+ * The following pdf shows that global distribution calculated this way can be
+ * achieved by scaling inuse weights of donating leaves and propagating the
+ * adjustments upwards proportionally.
+ *
+ *   https://drive.google.com/file/d/1vONz1-fzVO7oY5DXXsLjSxEtYYQbOvsE
+ *
+ * Combining the above two, we can determine how each leaf iocg's inuse should
+ * be adjusted to achieve the target donation.
+ *
+ *   https://drive.google.com/file/d/1WcrltBOSPN0qXVdBgnKm4mdp9FhuEFQN
+ *
+ * The inline comments use symbols from the last pdf.
+ *
+ *   b is the sum of the absolute budgets in the subtree. 1 for the root node.
+ *   f is the sum of the absolute budgets of non-donating nodes in the subtree.
+ *   t is the sum of the absolute budgets of donating nodes in the subtree.
+ *   w is the weight of the node. w = w_f + w_t
+ *   w_f is the non-donating portion of w. w_f = w * f / b
+ *   w_b is the donating portion of w. w_t = w * t / b
+ *   s is the sum of all sibling weights. s = Sum(w) for siblings
+ *   s_f and s_t are the non-donating and donating portions of s.
+ *
+ * Subscript p denotes the parent's counterpart and ' the adjusted value - e.g.
+ * w_pt is the donating portion of the parent's weight and w'_pt the same value
+ * after adjustments. Subscript r denotes the root node's values.
+ */
 static void transfer_surpluses(struct list_head *surpluses, struct ioc_now *now)
 {
-	struct ioc_gq *iocg;
+	LIST_HEAD(over_hwa);
+	LIST_HEAD(inner_walk);
+	struct ioc_gq *iocg, *tiocg, *root_iocg;
+	u32 after_sum, over_sum, over_target, gamma;
+
+	/*
+	 * It's pretty unlikely but possible for the total sum of
+	 * hweight_after_donation's to be higher than WEIGHT_ONE, which will
+	 * confuse the following calculations. If such condition is detected,
+	 * scale down everyone over its full share equally to keep the sum below
+	 * WEIGHT_ONE.
+	 */
+	after_sum = 0;
+	over_sum = 0;
+	list_for_each_entry(iocg, surpluses, surplus_list) {
+		u32 hwa;
+
+		current_hweight(iocg, &hwa, NULL);
+		after_sum += iocg->hweight_after_donation;
+
+		if (iocg->hweight_after_donation > hwa) {
+			over_sum += iocg->hweight_after_donation;
+			list_add(&iocg->walk_list, &over_hwa);
+		}
+	}
+
+	if (after_sum >= WEIGHT_ONE) {
+		/*
+		 * The delta should be deducted from the over_sum, calculate
+		 * target over_sum value.
+		 */
+		u32 over_delta = after_sum - (WEIGHT_ONE - 1);
+		WARN_ON_ONCE(over_sum <= over_delta);
+		over_target = over_sum - over_delta;
+	} else {
+		over_target = 0;
+	}
+
+	list_for_each_entry_safe(iocg, tiocg, &over_hwa, walk_list) {
+		if (over_target)
+			iocg->hweight_after_donation =
+				div_u64((u64)iocg->hweight_after_donation *
+					over_target, over_sum);
+		list_del_init(&iocg->walk_list);
+	}
+
+	/*
+	 * Build pre-order inner node walk list and prepare for donation
+	 * adjustment calculations.
+	 */
+	list_for_each_entry(iocg, surpluses, surplus_list) {
+		iocg_build_inner_walk(iocg, &inner_walk);
+	}
+
+	root_iocg = list_first_entry(&inner_walk, struct ioc_gq, walk_list);
+	WARN_ON_ONCE(root_iocg->level > 0);
 
+	list_for_each_entry(iocg, &inner_walk, walk_list) {
+		iocg->child_adjusted_sum = 0;
+		iocg->hweight_donating = 0;
+		iocg->hweight_after_donation = 0;
+	}
+
+	/*
+	 * Propagate the donating budget (b_t) and after donation budget (b'_t)
+	 * up the hierarchy.
+	 */
 	list_for_each_entry(iocg, surpluses, surplus_list) {
-		u32 old_hwi, new_hwi, new_inuse;
+		struct ioc_gq *parent = iocg->ancestors[iocg->level - 1];
+
+		parent->hweight_donating += iocg->hweight_donating;
+		parent->hweight_after_donation += iocg->hweight_after_donation;
+	}
 
-		current_hweight(iocg, NULL, &old_hwi);
-		new_hwi = iocg->hweight_after_donation;
+	list_for_each_entry_reverse(iocg, &inner_walk, walk_list) {
+		if (iocg->level > 0) {
+			struct ioc_gq *parent = iocg->ancestors[iocg->level - 1];
 
-		new_inuse = DIV64_U64_ROUND_UP((u64)iocg->inuse * new_hwi,
-					       old_hwi);
-		__propagate_weights(iocg, iocg->weight, new_inuse);
+			parent->hweight_donating += iocg->hweight_donating;
+			parent->hweight_after_donation += iocg->hweight_after_donation;
+		}
+	}
+
+	/*
+	 * Calculate inner hwa's (b) and make sure the donation values are
+	 * within the accepted ranges as we're doing low res calculations with
+	 * roundups.
+	 */
+	list_for_each_entry(iocg, &inner_walk, walk_list) {
+		if (iocg->level) {
+			struct ioc_gq *parent = iocg->ancestors[iocg->level - 1];
+
+			iocg->hweight_active = DIV64_U64_ROUND_UP(
+				(u64)parent->hweight_active * iocg->active,
+				parent->child_active_sum);
+
+		}
+
+		iocg->hweight_donating = min(iocg->hweight_donating,
+					     iocg->hweight_active);
+		iocg->hweight_after_donation = min(iocg->hweight_after_donation,
+						   iocg->hweight_donating - 1);
+		if (WARN_ON_ONCE(iocg->hweight_active <= 1 ||
+				 iocg->hweight_donating <= 1 ||
+				 iocg->hweight_after_donation == 0)) {
+			pr_warn("iocg: invalid donation weights in ");
+			pr_cont_cgroup_path(iocg_to_blkg(iocg)->blkcg->css.cgroup);
+			pr_cont(": active=%u donating=%u after=%u\n",
+				iocg->hweight_active, iocg->hweight_donating,
+				iocg->hweight_after_donation);
+		}
 	}
+
+	/*
+	 * Calculate the global donation rate (gamma) - the rate to adjust
+	 * non-donating budgets by. No need to use 64bit multiplication here as
+	 * the first operand is guaranteed to be smaller than WEIGHT_ONE
+	 * (1<<16).
+	 *
+	 * gamma = (1 - t_r') / (1 - t_r)
+	 */
+	gamma = DIV_ROUND_UP(
+		(WEIGHT_ONE - root_iocg->hweight_after_donation) * WEIGHT_ONE,
+		WEIGHT_ONE - root_iocg->hweight_donating);
+
+	/*
+	 * Calculate adjusted hwi, child_adjusted_sum and inuse for the inner
+	 * nodes.
+	 */
+	list_for_each_entry(iocg, &inner_walk, walk_list) {
+		struct ioc_gq *parent;
+		u32 inuse, wpt, wptp;
+		u64 st, sf;
+
+		if (iocg->level == 0) {
+			/* adjusted weight sum for 1st level: s' = s * b_pf / b'_pf */
+			iocg->child_adjusted_sum = DIV64_U64_ROUND_UP(
+				iocg->child_active_sum * (WEIGHT_ONE - iocg->hweight_donating),
+				WEIGHT_ONE - iocg->hweight_after_donation);
+			continue;
+		}
+
+		parent = iocg->ancestors[iocg->level - 1];
+
+		/* b' = gamma * b_f + b_t' */
+		iocg->hweight_inuse = DIV64_U64_ROUND_UP(
+			(u64)gamma * (iocg->hweight_active - iocg->hweight_donating),
+			WEIGHT_ONE) + iocg->hweight_after_donation;
+
+		/* w' = s' * b' / b'_p */
+		inuse = DIV64_U64_ROUND_UP(
+			(u64)parent->child_adjusted_sum * iocg->hweight_inuse,
+			parent->hweight_inuse);
+
+		/* adjusted weight sum for children: s' = s_f + s_t * w'_pt / w_pt */
+		st = DIV64_U64_ROUND_UP(
+			iocg->child_active_sum * iocg->hweight_donating,
+			iocg->hweight_active);
+		sf = iocg->child_active_sum - st;
+		wpt = DIV64_U64_ROUND_UP(
+			(u64)iocg->active * iocg->hweight_donating,
+			iocg->hweight_active);
+		wptp = DIV64_U64_ROUND_UP(
+			(u64)inuse * iocg->hweight_after_donation,
+			iocg->hweight_inuse);
+
+		iocg->child_adjusted_sum = sf + DIV64_U64_ROUND_UP(st * wptp, wpt);
+	}
+
+	/*
+	 * All inner nodes now have ->hweight_inuse and ->child_adjusted_sum and
+	 * we can finally determine leaf adjustments.
+	 */
+	list_for_each_entry(iocg, surpluses, surplus_list) {
+		struct ioc_gq *parent = iocg->ancestors[iocg->level - 1];
+		u32 inuse;
+
+		/* w' = s' * b' / b'_p, note that b' == b'_t for donating leaves */
+		inuse = DIV64_U64_ROUND_UP(
+			parent->child_adjusted_sum * iocg->hweight_after_donation,
+			parent->hweight_inuse);
+		__propagate_weights(iocg, iocg->active, inuse);
+	}
+
+	/* walk list should be dissolved after use */
+	list_for_each_entry_safe(iocg, tiocg, &inner_walk, walk_list)
+		list_del_init(&iocg->walk_list);
 }
 
 static void ioc_timer_fn(struct timer_list *timer)
@@ -1705,16 +1939,18 @@ static void ioc_timer_fn(struct timer_list *timer)
 		if (hw_inuse < hw_active ||
 		    (!waitqueue_active(&iocg->waitq) &&
 		     time_before64(vtime, now.vnow - ioc->margins.max))) {
-			u32 hwm, new_hwi;
+			u32 hwa, hwm, new_hwi;
 
 			/*
 			 * Already donating or accumulated enough to start.
 			 * Determine the donation amount.
 			 */
+			current_hweight(iocg, &hwa, NULL);
 			hwm = current_hweight_max(iocg);
 			new_hwi = hweight_after_donation(iocg, hwm, usage,
 							 &now);
 			if (new_hwi < hwm) {
+				iocg->hweight_donating = hwa;
 				iocg->hweight_after_donation = new_hwi;
 				list_add(&iocg->surplus_list, &surpluses);
 			} else {
