diff --git a/compiler/fir/fir2ir/tests-gen/org/jetbrains/kotlin/test/runners/codegen/FirBlackBoxCodegenTestGenerated.java b/compiler/fir/fir2ir/tests-gen/org/jetbrains/kotlin/test/runners/codegen/FirBlackBoxCodegenTestGenerated.java
index ca0a1ac4cfa..8faf2c7eca4 100644
--- a/compiler/fir/fir2ir/tests-gen/org/jetbrains/kotlin/test/runners/codegen/FirBlackBoxCodegenTestGenerated.java
+++ b/compiler/fir/fir2ir/tests-gen/org/jetbrains/kotlin/test/runners/codegen/FirBlackBoxCodegenTestGenerated.java
@@ -7538,6 +7538,12 @@ public class FirBlackBoxCodegenTestGenerated extends AbstractFirBlackBoxCodegenT
             runTest("compiler/testData/codegen/box/contracts/kt45236.kt");
         }
 
+        @Test
+        @TestMetadata("kt47168.kt")
+        public void testKt47168() throws Exception {
+            runTest("compiler/testData/codegen/box/contracts/kt47168.kt");
+        }
+
         @Test
         @TestMetadata("lambdaParameter.kt")
         public void testLambdaParameter() throws Exception {
diff --git a/compiler/frontend/cfg/src/org/jetbrains/kotlin/cfg/ControlFlowProcessor.kt b/compiler/frontend/cfg/src/org/jetbrains/kotlin/cfg/ControlFlowProcessor.kt
index a719f6a369f..47e32c52474 100644
--- a/compiler/frontend/cfg/src/org/jetbrains/kotlin/cfg/ControlFlowProcessor.kt
+++ b/compiler/frontend/cfg/src/org/jetbrains/kotlin/cfg/ControlFlowProcessor.kt
@@ -1574,19 +1574,18 @@ class ControlFlowProcessor(
                 }
             }
 
-            if (resolvedCall.resultingDescriptor is VariableDescriptor) {
+            val callInstruction = if (resolvedCall.resultingDescriptor is VariableDescriptor) {
                 // If a callee of the call is just a variable (without 'invoke'), 'read variable' is generated.
                 // todo : process arguments for such a case (KT-5387)
                 val callExpression =
                     callElement as? KtExpression ?: error("Variable-based call without callee expression: " + callElement.text)
                 assert(parameterValues.isEmpty()) { "Variable-based call with non-empty argument list: " + callElement.text }
-                return builder.readVariable(callExpression, resolvedCall, receivers)
+                builder.readVariable(callExpression, resolvedCall, receivers)
+            } else {
+                mark(resolvedCall.call.callElement)
+                builder.call(callElement, resolvedCall, receivers, parameterValues)
             }
-
-            mark(resolvedCall.call.callElement)
-            val callInstruction = builder.call(callElement, resolvedCall, receivers, parameterValues)
-            val deferredGeneratorsForCall = deferredGeneratorsStack.pop()
-            deferredGeneratorsForCall.forEach { it.invoke(builder) }
+            deferredGeneratorsStack.pop().forEach { it.invoke(builder) }
             return callInstruction
         }
 
diff --git a/compiler/testData/codegen/box/contracts/kt47168.kt b/compiler/testData/codegen/box/contracts/kt47168.kt
new file mode 100644
index 00000000000..7f50b9057a3
--- /dev/null
+++ b/compiler/testData/codegen/box/contracts/kt47168.kt
@@ -0,0 +1,16 @@
+// !USE_EXPERIMENTAL: kotlin.contracts.ExperimentalContracts
+// IGNORE_BACKEND: NATIVE
+import kotlin.contracts.*
+
+inline fun foo(x: () -> String, y: () -> String): String {
+    contract {
+        callsInPlace(x, InvocationKind.EXACTLY_ONCE)
+        callsInPlace(y, InvocationKind.EXACTLY_ONCE)
+    }
+    return x() + y()
+}
+
+fun box(): String {
+    val y = { "K" }
+    return foo({ "O" }, y)
+}
diff --git a/compiler/tests-common-new/tests-gen/org/jetbrains/kotlin/test/runners/codegen/BlackBoxCodegenTestGenerated.java b/compiler/tests-common-new/tests-gen/org/jetbrains/kotlin/test/runners/codegen/BlackBoxCodegenTestGenerated.java
index a04aabf3fa3..6ff73a672c6 100644
--- a/compiler/tests-common-new/tests-gen/org/jetbrains/kotlin/test/runners/codegen/BlackBoxCodegenTestGenerated.java
+++ b/compiler/tests-common-new/tests-gen/org/jetbrains/kotlin/test/runners/codegen/BlackBoxCodegenTestGenerated.java
@@ -7538,6 +7538,12 @@ public class BlackBoxCodegenTestGenerated extends AbstractBlackBoxCodegenTest {
             runTest("compiler/testData/codegen/box/contracts/kt45236.kt");
         }
 
+        @Test
+        @TestMetadata("kt47168.kt")
+        public void testKt47168() throws Exception {
+            runTest("compiler/testData/codegen/box/contracts/kt47168.kt");
+        }
+
         @Test
         @TestMetadata("lambdaParameter.kt")
         public void testLambdaParameter() throws Exception {
diff --git a/compiler/tests-common-new/tests-gen/org/jetbrains/kotlin/test/runners/codegen/IrBlackBoxCodegenTestGenerated.java b/compiler/tests-common-new/tests-gen/org/jetbrains/kotlin/test/runners/codegen/IrBlackBoxCodegenTestGenerated.java
index 48efad5c2f6..7a79b9a8c48 100644
--- a/compiler/tests-common-new/tests-gen/org/jetbrains/kotlin/test/runners/codegen/IrBlackBoxCodegenTestGenerated.java
+++ b/compiler/tests-common-new/tests-gen/org/jetbrains/kotlin/test/runners/codegen/IrBlackBoxCodegenTestGenerated.java
@@ -7538,6 +7538,12 @@ public class IrBlackBoxCodegenTestGenerated extends AbstractIrBlackBoxCodegenTes
             runTest("compiler/testData/codegen/box/contracts/kt45236.kt");
         }
 
+        @Test
+        @TestMetadata("kt47168.kt")
+        public void testKt47168() throws Exception {
+            runTest("compiler/testData/codegen/box/contracts/kt47168.kt");
+        }
+
         @Test
         @TestMetadata("lambdaParameter.kt")
         public void testLambdaParameter() throws Exception {
diff --git a/compiler/tests-gen/org/jetbrains/kotlin/codegen/LightAnalysisModeTestGenerated.java b/compiler/tests-gen/org/jetbrains/kotlin/codegen/LightAnalysisModeTestGenerated.java
index 84be58fe4ad..0331460182d 100644
--- a/compiler/tests-gen/org/jetbrains/kotlin/codegen/LightAnalysisModeTestGenerated.java
+++ b/compiler/tests-gen/org/jetbrains/kotlin/codegen/LightAnalysisModeTestGenerated.java
@@ -5744,6 +5744,11 @@ public class LightAnalysisModeTestGenerated extends AbstractLightAnalysisModeTes
             runTest("compiler/testData/codegen/box/contracts/kt45236.kt");
         }
 
+        @TestMetadata("kt47168.kt")
+        public void testKt47168() throws Exception {
+            runTest("compiler/testData/codegen/box/contracts/kt47168.kt");
+        }
+
         @TestMetadata("lambdaParameter.kt")
         public void testLambdaParameter() throws Exception {
             runTest("compiler/testData/codegen/box/contracts/lambdaParameter.kt");
diff --git a/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/es6/semantics/IrJsCodegenBoxES6TestGenerated.java b/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/es6/semantics/IrJsCodegenBoxES6TestGenerated.java
index 6aabdad9305..344afa3981e 100644
--- a/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/es6/semantics/IrJsCodegenBoxES6TestGenerated.java
+++ b/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/es6/semantics/IrJsCodegenBoxES6TestGenerated.java
@@ -5018,6 +5018,11 @@ public class IrJsCodegenBoxES6TestGenerated extends AbstractIrJsCodegenBoxES6Tes
             runTest("compiler/testData/codegen/box/contracts/kt45236.kt");
         }
 
+        @TestMetadata("kt47168.kt")
+        public void testKt47168() throws Exception {
+            runTest("compiler/testData/codegen/box/contracts/kt47168.kt");
+        }
+
         @TestMetadata("lambdaParameter.kt")
         public void testLambdaParameter() throws Exception {
             runTest("compiler/testData/codegen/box/contracts/lambdaParameter.kt");
diff --git a/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/ir/semantics/IrJsCodegenBoxTestGenerated.java b/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/ir/semantics/IrJsCodegenBoxTestGenerated.java
index 1a00ea47577..96d203a86f7 100644
--- a/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/ir/semantics/IrJsCodegenBoxTestGenerated.java
+++ b/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/ir/semantics/IrJsCodegenBoxTestGenerated.java
@@ -4424,6 +4424,11 @@ public class IrJsCodegenBoxTestGenerated extends AbstractIrJsCodegenBoxTest {
             runTest("compiler/testData/codegen/box/contracts/kt45236.kt");
         }
 
+        @TestMetadata("kt47168.kt")
+        public void testKt47168() throws Exception {
+            runTest("compiler/testData/codegen/box/contracts/kt47168.kt");
+        }
+
         @TestMetadata("lambdaParameter.kt")
         public void testLambdaParameter() throws Exception {
             runTest("compiler/testData/codegen/box/contracts/lambdaParameter.kt");
diff --git a/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/semantics/JsCodegenBoxTestGenerated.java b/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/semantics/JsCodegenBoxTestGenerated.java
index 219482468bf..88bfb463b6d 100644
--- a/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/semantics/JsCodegenBoxTestGenerated.java
+++ b/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/semantics/JsCodegenBoxTestGenerated.java
@@ -4424,6 +4424,11 @@ public class JsCodegenBoxTestGenerated extends AbstractJsCodegenBoxTest {
             runTest("compiler/testData/codegen/box/contracts/kt45236.kt");
         }
 
+        @TestMetadata("kt47168.kt")
+        public void testKt47168() throws Exception {
+            runTest("compiler/testData/codegen/box/contracts/kt47168.kt");
+        }
+
         @TestMetadata("lambdaParameter.kt")
         public void testLambdaParameter() throws Exception {
             runTest("compiler/testData/codegen/box/contracts/lambdaParameter.kt");