diff --git a/contrib/pgbench/pgbench.c b/contrib/pgbench/pgbench.c
index 96e5fb9..40427a3 100644
--- a/contrib/pgbench/pgbench.c
+++ b/contrib/pgbench/pgbench.c
@@ -1125,12 +1125,24 @@ top:
 			commands[st->state + 1] == NULL)
 		{
 			instr_time	diff;
-			int64		latency, now;
+			int64		latency;
 
 			INSTR_TIME_SET_CURRENT(diff);
-			now = INSTR_TIME_GET_MICROSEC(diff);
-			INSTR_TIME_SUBTRACT(diff, st->txn_begin);
-			latency = INSTR_TIME_GET_MICROSEC(diff);
+
+			if (throttle_delay)
+			{
+				/* Under throttling, compute latency wrt to the initial schedule,
+				 * not the actual transaction start.
+				 */
+				int64 now = INSTR_TIME_GET_MICROSEC(diff);
+				latency = now - thread->throttle_trigger;
+			}
+			else
+			{
+				INSTR_TIME_SUBTRACT(diff, st->txn_begin);
+				latency = INSTR_TIME_GET_MICROSEC(diff);
+			}
+
 			st->txn_latencies += latency;
 
 			/*
@@ -1144,16 +1156,8 @@ top:
 
 			/* record over the limit transactions if needed.
 			 */
-			if (latency_limit)
-			{
-				/* Under throttling, late means wrt to the initial schedule,
-				 * not the actual transaction start
-				 */
-				if (throttle_delay)
-					latency = now - thread->throttle_trigger;
-				if (latency > latency_limit)
-					thread->latency_late++;
-			}
+			if (latency_limit && latency > latency_limit)
+				thread->latency_late++;
 		}
 
 		/*
diff --git a/doc/src/sgml/pgbench.sgml b/doc/src/sgml/pgbench.sgml
index f80116f..453ae4b 100644
--- a/doc/src/sgml/pgbench.sgml
+++ b/doc/src/sgml/pgbench.sgml
@@ -420,8 +420,10 @@ pgbench <optional> <replaceable>options</> </optional> <replaceable>dbname</>
         Show progress report every <literal>sec</> seconds.  The report
         includes the time since the beginning of the run, the tps since the
         last report, and the transaction latency average and standard
-        deviation since the last report.  Under throttling (<option>-R</>), it
-        also includes the average schedule lag time since the last report.
+        deviation since the last report.  Under throttling (<option>-R</>),
+        the latency is computed with respect to the transaction scheduled
+        start time, not the actual transaction beginning time, and it also
+        includes the average schedule lag time since the last report.
        </para>
       </listitem>
      </varlistentry>