diff --git a/kotlinx-coroutines-core/common/src/CancellableContinuationImpl.kt b/kotlinx-coroutines-core/common/src/CancellableContinuationImpl.kt
index f74155eb8f..1a0169b65d 100644
--- a/kotlinx-coroutines-core/common/src/CancellableContinuationImpl.kt
+++ b/kotlinx-coroutines-core/common/src/CancellableContinuationImpl.kt
@@ -107,7 +107,7 @@ internal open class CancellableContinuationImpl<in T>(
         }
     }
 
-    private fun isReusable(): Boolean = delegate is DispatchedContinuation<*> && delegate.isReusable(this)
+    private fun isReusable(): Boolean = resumeMode.isReusableMode && (delegate as DispatchedContinuation<*>).isReusable()
 
     /**
      * Resets cancellability state in order to [suspendCancellableCoroutineReusable] to work.
@@ -115,7 +115,7 @@ internal open class CancellableContinuationImpl<in T>(
      */
     @JvmName("resetStateReusable") // Prettier stack traces
     internal fun resetStateReusable(): Boolean {
-        assert { resumeMode == MODE_CANCELLABLE_REUSABLE } // invalid mode for CancellableContinuationImpl
+        assert { resumeMode == MODE_CANCELLABLE_REUSABLE }
         assert { parentHandle !== NonDisposableHandle }
         val state = _state.value
         assert { state !is NotCompleted }
@@ -164,8 +164,7 @@ internal open class CancellableContinuationImpl<in T>(
      * Attempt to postpone cancellation for reusable cancellable continuation
      */
     private fun cancelLater(cause: Throwable): Boolean {
-        if (!resumeMode.isReusableMode) return false
-        // Ensure that we are postponing cancellation to the right instance
+        // Ensure that we are postponing cancellation to the right reusable instance
         if (!isReusable()) return false
         val dispatched = delegate as DispatchedContinuation<*>
         return dispatched.postponeCancellation(cause)
diff --git a/kotlinx-coroutines-core/common/src/internal/DispatchedContinuation.kt b/kotlinx-coroutines-core/common/src/internal/DispatchedContinuation.kt
index 45b9699c84..c689a38186 100644
--- a/kotlinx-coroutines-core/common/src/internal/DispatchedContinuation.kt
+++ b/kotlinx-coroutines-core/common/src/internal/DispatchedContinuation.kt
@@ -58,40 +58,30 @@ internal class DispatchedContinuation<in T>(
      */
     private val _reusableCancellableContinuation = atomic<Any?>(null)
 
-    public val reusableCancellableContinuation: CancellableContinuationImpl<*>?
+    private val reusableCancellableContinuation: CancellableContinuationImpl<*>?
         get() = _reusableCancellableContinuation.value as? CancellableContinuationImpl<*>
 
-    public fun isReusable(requester: CancellableContinuationImpl<*>): Boolean {
+    fun isReusable(): Boolean {
         /*
+        Invariant: caller.resumeMode.isReusableMode
          * Reusability control:
          * `null` -> no reusability at all, `false`
-         * If current state is not CCI, then we are within `suspendCancellableCoroutineReusable`, true
-         * Else, if result is CCI === requester, then it's our reusable continuation
-         * Identity check my fail for the following pattern:
-         * ```
-         * loop:
-         * suspendCancellableCoroutineReusable { } // Reusable, outer coroutine stores the child handle
-         * suspendCancellableCoroutine { } // **Not reusable**, handle should be disposed after {}, otherwise
-         * it will leak because it won't be freed by `releaseInterceptedContinuation`
-         * ```
+         * anything else -> reusable.
          */
-        val value = _reusableCancellableContinuation.value ?: return false
-        if (value is CancellableContinuationImpl<*>) return value === requester
-        return true
+        return _reusableCancellableContinuation.value != null
     }
 
-
     /**
      * Awaits until previous call to `suspendCancellableCoroutineReusable` will
      * stop mutating cached instance
      */
-    public fun awaitReusability() {
-        _reusableCancellableContinuation.loop { it ->
+    fun awaitReusability() {
+        _reusableCancellableContinuation.loop {
             if (it !== REUSABLE_CLAIMED) return
         }
     }
 
-    public fun release() {
+    fun release() {
         /*
          * Called from `releaseInterceptedContinuation`, can be concurrent with
          * the code in `getResult` right after `trySuspend` returned `true`, so we have
diff --git a/kotlinx-coroutines-core/jvm/test/ReusableContinuationStressTest.kt b/kotlinx-coroutines-core/jvm/test/ReusableContinuationStressTest.kt
new file mode 100644
index 0000000000..a256815db3
--- /dev/null
+++ b/kotlinx-coroutines-core/jvm/test/ReusableContinuationStressTest.kt
@@ -0,0 +1,41 @@
+/*
+ * Copyright 2016-2021 JetBrains s.r.o. Use of this source code is governed by the Apache 2.0 license.
+ */
+
+package kotlinx.coroutines
+
+import kotlinx.coroutines.flow.*
+import org.junit.*
+
+class ReusableContinuationStressTest : TestBase() {
+
+    private val iterations = 1000 * stressTestMultiplierSqrt
+
+    @Test // Originally reported by @denis-bezrukov in #2736
+    fun testDebounceWithStateFlow() = runBlocking<Unit> {
+        withContext(Dispatchers.Default) {
+            repeat(iterations) {
+                launch { // <- load the dispatcher and OS scheduler
+                    runStressTestOnce(1, 1)
+                }
+            }
+        }
+    }
+
+    private suspend fun runStressTestOnce(delay: Int, debounce: Int) = coroutineScope {
+        val stateFlow = MutableStateFlow(0)
+        val emitter = launch {
+            repeat(1000) { i ->
+                stateFlow.emit(i)
+                delay(delay.toLong())
+            }
+        }
+        var last = 0
+        stateFlow.debounce(debounce.toLong()).take(100).collect { i ->
+            if (i - last > 100) {
+                last = i
+            }
+        }
+        emitter.cancel()
+    }
+}