Index: llvm/trunk/lib/Analysis/ValueTracking.cpp
===================================================================
--- llvm/trunk/lib/Analysis/ValueTracking.cpp
+++ llvm/trunk/lib/Analysis/ValueTracking.cpp
@@ -2113,13 +2113,29 @@
   return MinSignBits;
 }
 
+static unsigned ComputeNumSignBitsImpl(const Value *V, unsigned Depth,
+                                       const Query &Q);
+
+static unsigned ComputeNumSignBits(const Value *V, unsigned Depth,
+                                   const Query &Q) {
+  unsigned Result = ComputeNumSignBitsImpl(V, Depth, Q);
+  assert(Result > 0 && "At least one sign bit needs to be present!");
+  return Result;
+}
+
 /// Return the number of times the sign bit of the register is replicated into
 /// the other bits. We know that at least 1 bit is always equal to the sign bit
 /// (itself), but other cases can give us information. For example, immediately
 /// after an "ashr X, 2", we know that the top 3 bits are all equal to each
 /// other, so we return 3. For vectors, return the number of sign bits for the
 /// vector element with the mininum number of known sign bits.
-unsigned ComputeNumSignBits(const Value *V, unsigned Depth, const Query &Q) {
+static unsigned ComputeNumSignBitsImpl(const Value *V, unsigned Depth,
+                                       const Query &Q) {
+
+  // We return the minimum number of sign bits that are guaranteed to be present
+  // in V, so for undef we have to conservatively return 1.  We don't have the
+  // same behavior for poison though -- that's a FIXME today.
+
   unsigned TyBits = Q.DL.getTypeSizeInBits(V->getType()->getScalarType());
   unsigned Tmp, Tmp2;
   unsigned FirstAnswer = 1;
@@ -2195,7 +2211,10 @@
     // ashr X, C   -> adds C sign bits.  Vectors too.
     const APInt *ShAmt;
     if (match(U->getOperand(1), m_APInt(ShAmt))) {
-      Tmp += ShAmt->getZExtValue();
+      unsigned ShAmtLimited = ShAmt->getZExtValue();
+      if (ShAmtLimited >= TyBits)
+        break;  // Bad shift.
+      Tmp += ShAmtLimited;
       if (Tmp > TyBits) Tmp = TyBits;
     }
     return Tmp;
Index: llvm/trunk/test/Transforms/IndVarSimplify/pr32045.ll
===================================================================
--- llvm/trunk/test/Transforms/IndVarSimplify/pr32045.ll
+++ llvm/trunk/test/Transforms/IndVarSimplify/pr32045.ll
@@ -0,0 +1,39 @@
+; RUN: opt -S -indvars < %s | FileCheck %s
+
+; This is not an IndVarSimplify bug, but the original symptom
+; manifested as one.
+
+define i32 @foo(i32 %a, i32 %b, i32 %c, i32* %sink) {
+; CHECK-LABEL: @foo(
+; CHECK:       for.end:
+; CHECK-NEXT:    [[SHR:%.*]] = ashr i32 %neg3, -1
+; CHECK-NEXT:    [[SUB:%.*]] = sub nsw i32 0, [[SHR]]
+; CHECK-NEXT:    [[SHR1:%.*]] = ashr i32 [[SUB]], [[B:%.*]]
+; CHECK-NEXT:    [[NEG:%.*]] = xor i32 [[SHR1]], -1
+; CHECK-NEXT:    store i32 [[NEG]], i32* %sink
+;
+entry:
+  %tobool2 = icmp eq i32 %a, 0
+  br i1 %tobool2, label %exit, label %preheader
+
+preheader:
+  %neg3 = phi i32 [ %c, %entry ], [ %neg, %for.end ]
+  br label %for
+
+for:
+  %p = phi i32 [ %dec, %for ], [ 1, %preheader ]
+  %cmp = icmp sgt i32 %p, -1
+  %dec = add nsw i32 %p, -1
+  br i1 %cmp, label %for, label %for.end
+
+for.end:
+  %shr = ashr i32 %neg3, %p
+  %sub = sub nsw i32 0, %shr
+  %shr1 = ashr i32 %sub, %b
+  %neg = xor i32 %shr1, -1
+  store i32 %neg, i32* %sink
+  br i1 false, label %exit, label %preheader
+
+exit:
+  ret i32 0
+}
Index: llvm/trunk/unittests/Analysis/ValueTrackingTest.cpp
===================================================================
--- llvm/trunk/unittests/Analysis/ValueTrackingTest.cpp
+++ llvm/trunk/unittests/Analysis/ValueTrackingTest.cpp
@@ -239,3 +239,22 @@
     Index++;
   }
 }
+
+TEST(ValueTracking, ComputeNumSignBits_PR32045) {
+  StringRef Assembly = "define i32 @f(i32 %a) { "
+                       "  %val = ashr i32 %a, -1 "
+                       "  ret i32 %val "
+                       "} ";
+
+  LLVMContext Context;
+  SMDiagnostic Error;
+  auto M = parseAssemblyString(Assembly, Error, Context);
+  assert(M && "Bad assembly?");
+
+  auto *F = M->getFunction("f");
+  assert(F && "Bad assembly?");
+
+  auto *RVal =
+      cast<ReturnInst>(F->getEntryBlock().getTerminator())->getOperand(0);
+  EXPECT_EQ(ComputeNumSignBits(RVal, M->getDataLayout()), 1);
+}