diff --git a/block/blk-iocost.c b/block/blk-iocost.c
index 9366527d8c12..fc897bb142bc 100644
--- a/block/blk-iocost.c
+++ b/block/blk-iocost.c
@@ -452,6 +452,9 @@ struct iocg_pcpu_stat {
 
 struct iocg_stat {
 	u64				usage_us;
+	u64				wait_us;
+	u64				indebt_us;
+	u64				indelay_us;
 };
 
 /* per device-cgroup pair */
@@ -538,6 +541,9 @@ struct ioc_gq {
 	struct iocg_stat		last_stat;
 	u64				last_stat_abs_vusage;
 	u64				usage_delta_us;
+	u64				wait_since;
+	u64				indebt_since;
+	u64				indelay_since;
 
 	/* this iocg's depth in the hierarchy and ancestors including self */
 	int				level;
@@ -1303,9 +1309,15 @@ static bool iocg_kick_delay(struct ioc_gq *iocg, struct ioc_now *now)
 	}
 
 	if (delay >= MIN_DELAY) {
+		if (!iocg->indelay_since)
+			iocg->indelay_since = now->now;
 		blkcg_set_delay(blkg, delay * NSEC_PER_USEC);
 		return true;
 	} else {
+		if (iocg->indelay_since) {
+			iocg->local_stat.indelay_us += now->now - iocg->indelay_since;
+			iocg->indelay_since = 0;
+		}
 		iocg->delay = 0;
 		blkcg_clear_delay(blkg);
 		return false;
@@ -1325,8 +1337,10 @@ static void iocg_incur_debt(struct ioc_gq *iocg, u64 abs_cost,
 	 * Once in debt, debt handling owns inuse. @iocg stays at the minimum
 	 * inuse donating all of it share to others until its debt is paid off.
 	 */
-	if (!iocg->abs_vdebt && abs_cost)
+	if (!iocg->abs_vdebt && abs_cost) {
+		iocg->indebt_since = now->now;
 		propagate_weights(iocg, iocg->active, 0, false, now);
+	}
 
 	iocg->abs_vdebt += abs_cost;
 
@@ -1348,9 +1362,13 @@ static void iocg_pay_debt(struct ioc_gq *iocg, u64 abs_vpay,
 	iocg->abs_vdebt -= min(abs_vpay, iocg->abs_vdebt);
 
 	/* if debt is paid in full, restore inuse */
-	if (!iocg->abs_vdebt)
+	if (!iocg->abs_vdebt) {
+		iocg->local_stat.indebt_us += now->now - iocg->indebt_since;
+		iocg->indebt_since = 0;
+
 		propagate_weights(iocg, iocg->active, iocg->last_inuse,
 				  false, now);
+	}
 }
 
 static int iocg_wake_fn(struct wait_queue_entry *wq_entry, unsigned mode,
@@ -1436,8 +1454,17 @@ static void iocg_kick_waitq(struct ioc_gq *iocg, bool pay_debt,
 
 	__wake_up_locked_key(&iocg->waitq, TASK_NORMAL, &ctx);
 
-	if (!waitqueue_active(&iocg->waitq))
+	if (!waitqueue_active(&iocg->waitq)) {
+		if (iocg->wait_since) {
+			iocg->local_stat.wait_us += now->now - iocg->wait_since;
+			iocg->wait_since = 0;
+		}
 		return;
+	}
+
+	if (!iocg->wait_since)
+		iocg->wait_since = now->now;
+
 	if (WARN_ON_ONCE(ctx.vbudget >= 0))
 		return;
 
@@ -1579,8 +1606,15 @@ static void iocg_flush_stat_one(struct ioc_gq *iocg, struct ioc_now *now)
 	iocg->usage_delta_us = div64_u64(vusage_delta, ioc->vtime_base_rate);
 	iocg->local_stat.usage_us += iocg->usage_delta_us;
 
+	/* propagate upwards */
 	new_stat.usage_us =
 		iocg->local_stat.usage_us + iocg->desc_stat.usage_us;
+	new_stat.wait_us =
+		iocg->local_stat.wait_us + iocg->desc_stat.wait_us;
+	new_stat.indebt_us =
+		iocg->local_stat.indebt_us + iocg->desc_stat.indebt_us;
+	new_stat.indelay_us =
+		iocg->local_stat.indelay_us + iocg->desc_stat.indelay_us;
 
 	/* propagate the deltas to the parent */
 	if (iocg->level > 0) {
@@ -1589,6 +1623,12 @@ static void iocg_flush_stat_one(struct ioc_gq *iocg, struct ioc_now *now)
 
 		parent_stat->usage_us +=
 			new_stat.usage_us - iocg->last_stat.usage_us;
+		parent_stat->wait_us +=
+			new_stat.wait_us - iocg->last_stat.wait_us;
+		parent_stat->indebt_us +=
+			new_stat.indebt_us - iocg->last_stat.indebt_us;
+		parent_stat->indelay_us +=
+			new_stat.indelay_us - iocg->last_stat.indelay_us;
 	}
 
 	iocg->last_stat = new_stat;
@@ -1961,8 +2001,6 @@ static void ioc_timer_fn(struct timer_list *timer)
 		return;
 	}
 
-	iocg_flush_stat(&ioc->active_iocgs, &now);
-
 	/*
 	 * Waiters determine the sleep durations based on the vrate they
 	 * saw at the time of sleep.  If vrate has increased, some waiters
@@ -1976,6 +2014,22 @@ static void ioc_timer_fn(struct timer_list *timer)
 
 		spin_lock(&iocg->waitq.lock);
 
+		/* flush wait and indebt stat deltas */
+		if (iocg->wait_since) {
+			iocg->local_stat.wait_us += now.now - iocg->wait_since;
+			iocg->wait_since = now.now;
+		}
+		if (iocg->indebt_since) {
+			iocg->local_stat.indebt_us +=
+				now.now - iocg->indebt_since;
+			iocg->indebt_since = now.now;
+		}
+		if (iocg->indelay_since) {
+			iocg->local_stat.indelay_us +=
+				now.now - iocg->indelay_since;
+			iocg->indelay_since = now.now;
+		}
+
 		if (waitqueue_active(&iocg->waitq) || iocg->abs_vdebt ||
 		    iocg->delay) {
 			/* might be oversleeping vtime / hweight changes, kick */
@@ -2010,6 +2064,12 @@ static void ioc_timer_fn(struct timer_list *timer)
 	}
 	commit_weights(ioc);
 
+	/*
+	 * Wait and indebt stat are flushed above and the donation calculation
+	 * below needs updated usage stat. Let's bring stat up-to-date.
+	 */
+	iocg_flush_stat(&ioc->active_iocgs, &now);
+
 	/* calc usage and see whether some weights need to be moved around */
 	list_for_each_entry(iocg, &ioc->active_iocgs, active_list) {
 		u64 vdone, vtime, usage_us, usage_dur;
@@ -2835,6 +2895,13 @@ static size_t ioc_pd_stat(struct blkg_policy_data *pd, char *buf, size_t size)
 	pos += scnprintf(buf + pos, size - pos, " cost.usage=%llu",
 			 iocg->last_stat.usage_us);
 
+	if (blkcg_debug_stats)
+		pos += scnprintf(buf + pos, size - pos,
+				 " cost.wait=%llu cost.indebt=%llu cost.indelay=%llu",
+				 iocg->last_stat.wait_us,
+				 iocg->last_stat.indebt_us,
+				 iocg->last_stat.indelay_us);
+
 	return pos;
 }
 
diff --git a/tools/cgroup/iocost_monitor.py b/tools/cgroup/iocost_monitor.py
index f4699f9b46ba..c4ff907c078b 100644
--- a/tools/cgroup/iocost_monitor.py
+++ b/tools/cgroup/iocost_monitor.py
@@ -45,8 +45,7 @@ except:
     err('The kernel does not have iocost enabled')
 
 IOC_RUNNING     = prog['IOC_RUNNING'].value_()
-NR_USAGE_SLOTS  = prog['NR_USAGE_SLOTS'].value_()
-HWEIGHT_WHOLE   = prog['HWEIGHT_WHOLE'].value_()
+WEIGHT_ONE      = prog['WEIGHT_ONE'].value_()
 VTIME_PER_SEC   = prog['VTIME_PER_SEC'].value_()
 VTIME_PER_USEC  = prog['VTIME_PER_USEC'].value_()
 AUTOP_SSD_FAST  = prog['AUTOP_SSD_FAST'].value_()
@@ -100,7 +99,7 @@ class IocStat:
         self.period_ms = ioc.period_us.value_() / 1_000
         self.period_at = ioc.period_at.value_() / 1_000_000
         self.vperiod_at = ioc.period_at_vtime.value_() / VTIME_PER_SEC
-        self.vrate_pct = ioc.vtime_rate.counter.value_() * 100 / VTIME_PER_USEC
+        self.vrate_pct = ioc.vtime_base_rate.value_() * 100 / VTIME_PER_USEC
         self.busy_level = ioc.busy_level.value_()
         self.autop_idx = ioc.autop_idx.value_()
         self.user_cost_model = ioc.user_cost_model.value_()
@@ -136,7 +135,7 @@ class IocStat:
 
     def table_header_str(self):
         return f'{"":25} active {"weight":>9} {"hweight%":>13} {"inflt%":>6} ' \
-               f'{"dbt":>3} {"delay":>6} {"usages%"}'
+               f'{"debt":>7} {"delay":>7} {"usage%"}'
 
 class IocgStat:
     def __init__(self, iocg):
@@ -144,11 +143,11 @@ class IocgStat:
         blkg = iocg.pd.blkg
 
         self.is_active = not list_empty(iocg.active_list.address_of_())
-        self.weight = iocg.weight.value_()
-        self.active = iocg.active.value_()
-        self.inuse = iocg.inuse.value_()
-        self.hwa_pct = iocg.hweight_active.value_() * 100 / HWEIGHT_WHOLE
-        self.hwi_pct = iocg.hweight_inuse.value_() * 100 / HWEIGHT_WHOLE
+        self.weight = iocg.weight.value_() / WEIGHT_ONE
+        self.active = iocg.active.value_() / WEIGHT_ONE
+        self.inuse = iocg.inuse.value_() / WEIGHT_ONE
+        self.hwa_pct = iocg.hweight_active.value_() * 100 / WEIGHT_ONE
+        self.hwi_pct = iocg.hweight_inuse.value_() * 100 / WEIGHT_ONE
         self.address = iocg.value_()
 
         vdone = iocg.done_vtime.counter.value_()
@@ -160,23 +159,13 @@ class IocgStat:
         else:
             self.inflight_pct = 0
 
-        # vdebt used to be an atomic64_t and is now u64, support both
-        try:
-            self.debt_ms = iocg.abs_vdebt.counter.value_() / VTIME_PER_USEC / 1000
-        except:
-            self.debt_ms = iocg.abs_vdebt.value_() / VTIME_PER_USEC / 1000
-
-        self.use_delay = blkg.use_delay.counter.value_()
-        self.delay_ms = blkg.delay_nsec.counter.value_() / 1_000_000
-
-        usage_idx = iocg.usage_idx.value_()
-        self.usages = []
-        self.usage = 0
-        for i in range(NR_USAGE_SLOTS):
-            usage = iocg.usages[(usage_idx + 1 + i) % NR_USAGE_SLOTS].value_()
-            upct = usage * 100 / HWEIGHT_WHOLE
-            self.usages.append(upct)
-            self.usage = max(self.usage, upct)
+        self.usage = (100 * iocg.usage_delta_us.value_() /
+                      ioc.period_us.value_()) if self.active else 0
+        self.debt_ms = iocg.abs_vdebt.value_() / VTIME_PER_USEC / 1000
+        if blkg.use_delay.counter.value_() != 0:
+            self.delay_ms = blkg.delay_nsec.counter.value_() / 1_000_000
+        else:
+            self.delay_ms = 0
 
     def dict(self, now, path):
         out = { 'cgroup'                : path,
@@ -189,25 +178,20 @@ class IocgStat:
                 'hweight_inuse_pct'     : self.hwi_pct,
                 'inflight_pct'          : self.inflight_pct,
                 'debt_ms'               : self.debt_ms,
-                'use_delay'             : self.use_delay,
                 'delay_ms'              : self.delay_ms,
                 'usage_pct'             : self.usage,
                 'address'               : self.address }
-        for i in range(len(self.usages)):
-            out[f'usage_pct_{i}'] = str(self.usages[i])
         return out
 
     def table_row_str(self, path):
         out = f'{path[-28:]:28} ' \
               f'{"*" if self.is_active else " "} ' \
-              f'{self.inuse:5}/{self.active:5} ' \
+              f'{round(self.inuse):5}/{round(self.active):5} ' \
               f'{self.hwi_pct:6.2f}/{self.hwa_pct:6.2f} ' \
               f'{self.inflight_pct:6.2f} ' \
-              f'{min(math.ceil(self.debt_ms), 999):3} ' \
-              f'{min(self.use_delay, 99):2}*'\
-              f'{min(math.ceil(self.delay_ms), 999):03} '
-        for u in self.usages:
-            out += f'{min(round(u), 999):03d}:'
+              f'{self.debt_ms:7.2f} ' \
+              f'{self.delay_ms:7.2f} '\
+              f'{min(self.usage, 999):6.2f}'
         out = out.rstrip(':')
         return out