diff --git a/mm/backing-dev.c b/mm/backing-dev.c
index 271f2ca862c8..f5561ea7d90a 100644
--- a/mm/backing-dev.c
+++ b/mm/backing-dev.c
@@ -398,12 +398,12 @@ static void cgwb_release_workfn(struct work_struct *work)
 	blkcg_unpin_online(blkcg);
 
 	fprop_local_destroy_percpu(&wb->memcg_completions);
-	percpu_ref_exit(&wb->refcnt);
 
 	spin_lock_irq(&cgwb_lock);
 	list_del(&wb->offline_node);
 	spin_unlock_irq(&cgwb_lock);
 
+	percpu_ref_exit(&wb->refcnt);
 	wb_exit(wb);
 	WARN_ON_ONCE(!list_empty(&wb->b_attached));
 	kfree_rcu(wb, rcu);