diff --git a/mm/memcontrol-v1.h b/mm/memcontrol-v1.h
index b9a21f0fd2c3..2cd37e1792d7 100644
--- a/mm/memcontrol-v1.h
+++ b/mm/memcontrol-v1.h
@@ -25,6 +25,9 @@ int memory_stat_show(struct seq_file *m, void *v);
 struct mem_cgroup *mem_cgroup_private_id_get_online(struct mem_cgroup *memcg,
 						    unsigned int n);
 
+void reparent_memcg_lruvec_state_local(struct mem_cgroup *memcg,
+				       struct mem_cgroup *parent, int idx);
+
 /* Cgroup v1-specific declarations */
 #ifdef CONFIG_MEMCG_V1
 
@@ -67,8 +70,6 @@ void reparent_memcg1_lruvec_state_local(struct mem_cgroup *memcg, struct mem_cgr
 
 void reparent_memcg_state_local(struct mem_cgroup *memcg,
 				struct mem_cgroup *parent, int idx);
-void reparent_memcg_lruvec_state_local(struct mem_cgroup *memcg,
-				       struct mem_cgroup *parent, int idx);
 
 void memcg1_account_kmem(struct mem_cgroup *memcg, int nr_pages);
 static inline bool memcg1_tcpmem_active(struct mem_cgroup *memcg)
diff --git a/mm/memcontrol.c b/mm/memcontrol.c
index 307203301a2a..cf53d4ac7ecc 100644
--- a/mm/memcontrol.c
+++ b/mm/memcontrol.c
@@ -233,14 +233,29 @@ static inline struct obj_cgroup *__memcg_reparent_objcgs(struct mem_cgroup *memc
 	return objcg;
 }
 
-#ifdef CONFIG_MEMCG_V1
 static void __mem_cgroup_flush_stats(struct mem_cgroup *memcg, bool force);
 
+/*
+ * Reparent the non-hierarchical lruvec stats that count_shadow_nodes() reads
+ * to approximate the shadow node budget.  They are not exposed to userspace
+ * on cgroup v2, but they must follow the reparented folios; otherwise the
+ * ancestor would only receive the negative deltas when the folios are freed
+ * without ever having received the positive base, and its local stats would
+ * permanently underflow.
+ */
+static void reparent_v2_lruvec_state_local(struct mem_cgroup *memcg, struct mem_cgroup *parent)
+{
+	int i;
+
+	for (i = 0; i < NR_LRU_LISTS; i++)
+		reparent_memcg_lruvec_state_local(memcg, parent, NR_LRU_BASE + i);
+
+	reparent_memcg_lruvec_state_local(memcg, parent, NR_SLAB_RECLAIMABLE_B);
+	reparent_memcg_lruvec_state_local(memcg, parent, NR_SLAB_UNRECLAIMABLE_B);
+}
+
 static inline void reparent_state_local(struct mem_cgroup *memcg, struct mem_cgroup *parent)
 {
-	if (cgroup_subsys_on_dfl(memory_cgrp_subsys))
-		return;
-
 	/*
 	 * Reparent stats exposed non-hierarchically. Flush @memcg's stats first
 	 * to read its stats accurately , and conservatively flush @parent's
@@ -249,17 +264,18 @@ static inline void reparent_state_local(struct mem_cgroup *memcg, struct mem_cgr
 	 */
 	__mem_cgroup_flush_stats(memcg, true);
 
-	/* The following counts are all non-hierarchical and need to be reparented. */
-	reparent_memcg1_state_local(memcg, parent);
-	reparent_memcg1_lruvec_state_local(memcg, parent);
+	if (cgroup_subsys_on_dfl(memory_cgrp_subsys)) {
+		reparent_v2_lruvec_state_local(memcg, parent);
+	} else {
+#ifdef CONFIG_MEMCG_V1
+		/* The following counts are all non-hierarchical and need to be reparented. */
+		reparent_memcg1_state_local(memcg, parent);
+		reparent_memcg1_lruvec_state_local(memcg, parent);
+#endif
+	}
 
 	__mem_cgroup_flush_stats(parent, true);
 }
-#else
-static inline void reparent_state_local(struct mem_cgroup *memcg, struct mem_cgroup *parent)
-{
-}
-#endif
 
 static inline void reparent_locks(struct mem_cgroup *memcg, struct mem_cgroup *parent, int nid)
 {
@@ -571,7 +587,6 @@ unsigned long lruvec_page_state_local(struct lruvec *lruvec,
 	return x;
 }
 
-#ifdef CONFIG_MEMCG_V1
 static void __mod_memcg_lruvec_state(struct mem_cgroup_per_node *pn,
 				     enum node_stat_item idx, long val);
 
@@ -593,7 +608,6 @@ void reparent_memcg_lruvec_state_local(struct mem_cgroup *memcg,
 		__mod_memcg_lruvec_state(parent_pn, idx, value);
 	}
 }
-#endif
 
 /* Subset of vm_event_item to report for memcg event stats */
 static const unsigned int memcg_vm_event_stat[] = {