diff --git a/module/zfs/fm.c b/module/zfs/fm.c
index a5003f85d..7da5bc035 100644
--- a/module/zfs/fm.c
+++ b/module/zfs/fm.c
@@ -658,8 +658,7 @@ zfs_zevent_next(zfs_zevent_t *ze, nvlist_t **event, uint64_t *event_size,
 
 #ifdef _KERNEL
 	/* Include events dropped due to rate limiting */
-	*dropped += ratelimit_dropped;
-	ratelimit_dropped = 0;
+	*dropped += atomic_swap_64(&ratelimit_dropped, 0);
 #endif
 	ze->ze_dropped = 0;
 out: