diff --git a/llvm/lib/Analysis/InstructionSimplify.cpp b/llvm/lib/Analysis/InstructionSimplify.cpp
index abcde1ded6b2ce..c57a111a5e2041 100644
--- a/llvm/lib/Analysis/InstructionSimplify.cpp
+++ b/llvm/lib/Analysis/InstructionSimplify.cpp
@@ -539,12 +539,16 @@ static Value *threadBinOpOverPHI(Instruction::BinaryOps Opcode, Value *LHS,
 
   // Evaluate the BinOp on the incoming phi values.
   Value *CommonValue = nullptr;
-  for (Value *Incoming : PI->incoming_values()) {
+  for (Use &Incoming : PI->incoming_values()) {
     // If the incoming value is the phi node itself, it can safely be skipped.
     if (Incoming == PI)
       continue;
-    Value *V = PI == LHS ? simplifyBinOp(Opcode, Incoming, RHS, Q, MaxRecurse)
-                         : simplifyBinOp(Opcode, LHS, Incoming, Q, MaxRecurse);
+    Instruction *InTI = PI->getIncomingBlock(Incoming)->getTerminator();
+    Value *V = PI == LHS
+                   ? simplifyBinOp(Opcode, Incoming, RHS,
+                                   Q.getWithInstruction(InTI), MaxRecurse)
+                   : simplifyBinOp(Opcode, LHS, Incoming,
+                                   Q.getWithInstruction(InTI), MaxRecurse);
     // If the operation failed to simplify, or simplified to a different value
     // to previously, then give up.
     if (!V || (CommonValue && V != CommonValue))
diff --git a/llvm/test/Transforms/InstSimplify/phi.ll b/llvm/test/Transforms/InstSimplify/phi.ll
index 14f17674bc5249..c97326ea05137e 100644
--- a/llvm/test/Transforms/InstSimplify/phi.ll
+++ b/llvm/test/Transforms/InstSimplify/phi.ll
@@ -153,7 +153,8 @@ EXIT:
   ret i8 %r
 }
 
-; FIXME: This is a miscompile.
+; Should not fold srem to -1 due to incorrect context instruction when
+; threading over phi.
 define i32 @pr61312() {
 ; CHECK-LABEL: @pr61312(
 ; CHECK-NEXT:  entry:
@@ -166,7 +167,8 @@ define i32 @pr61312() {
 ; CHECK-NEXT:    [[DEC]] = add nsw i32 [[A_0]], -1
 ; CHECK-NEXT:    br label [[FOR_COND]]
 ; CHECK:       for.end:
-; CHECK-NEXT:    ret i32 -1
+; CHECK-NEXT:    [[REM:%.*]] = srem i32 -1, [[A_0]]
+; CHECK-NEXT:    ret i32 [[REM]]
 ;
 entry:
   br label %for.cond