diff --git a/platform/platform-impl/src/com/intellij/openapi/components/impl/stores/StateStorageManagerImpl.java b/platform/platform-impl/src/com/intellij/openapi/components/impl/stores/StateStorageManagerImpl.java
index b728437b1948..75c70d08bc16 100644
--- a/platform/platform-impl/src/com/intellij/openapi/components/impl/stores/StateStorageManagerImpl.java
+++ b/platform/platform-impl/src/com/intellij/openapi/components/impl/stores/StateStorageManagerImpl.java
@@ -373,7 +373,7 @@ public abstract class StateStorageManagerImpl implements StateStorageManager, Di
   private static final Pattern MACRO_PATTERN = Pattern.compile("(\\$[^\\$]*\\$)");
 
   @Nullable
-  public String expandMacros(final String file) {
+  public synchronized String expandMacros(final String file) {
     final Matcher matcher = MACRO_PATTERN.matcher(file);
     while (matcher.find()) {
       String m = matcher.group(1);