diff --git a/lib/Transforms/Scalar/InstructionCombining.cpp b/lib/Transforms/Scalar/InstructionCombining.cpp
index 75a1ffea6b5..3210b12cbb9 100644
--- a/lib/Transforms/Scalar/InstructionCombining.cpp
+++ b/lib/Transforms/Scalar/InstructionCombining.cpp
@@ -1274,12 +1274,12 @@ bool InstCombiner::SimplifyDemandedBits(Value *V, APInt DemandedMask,
     break;
   case Instruction::SRem:
     if (ConstantInt *Rem = dyn_cast<ConstantInt>(I->getOperand(1))) {
-      APInt RA = Rem->getValue();
-      if (RA.isPowerOf2() || (-RA).isPowerOf2()) {
+      APInt RA = Rem->getValue().abs();
+      if (RA.isPowerOf2()) {
         if (DemandedMask.ule(RA))    // srem won't affect demanded bits
           return UpdateValueUsesWith(I, I->getOperand(0));
 
-        APInt LowBits = RA.isStrictlyPositive() ? (RA - 1) : ~RA;
+        APInt LowBits = RA - 1;
         APInt Mask2 = LowBits | APInt::getSignBit(BitWidth);
         if (SimplifyDemandedBits(I->getOperand(0), Mask2,
                                  LHSKnownZero, LHSKnownOne, Depth+1))
diff --git a/test/Transforms/InstCombine/2008-11-01-SRemDemandedBits.ll b/test/Transforms/InstCombine/2008-11-01-SRemDemandedBits.ll
new file mode 100644
index 00000000000..46e98eb3627
--- /dev/null
+++ b/test/Transforms/InstCombine/2008-11-01-SRemDemandedBits.ll
@@ -0,0 +1,8 @@
+; RUN: llvm-as < %s | opt -instcombine | llvm-dis | grep {ret i1 true}
+; PR2993
+
+define i1 @foo(i32 %x) {
+  %1 = srem i32 %x, -1
+  %2 = icmp eq i32 %1, 0
+  ret i1 %2
+}