diff --git a/scripts/kconfig/streamline_config.pl b/scripts/kconfig/streamline_config.pl
index ec7afce4c88d..bccf07ddd0b6 100644
--- a/scripts/kconfig/streamline_config.pl
+++ b/scripts/kconfig/streamline_config.pl
@@ -250,33 +250,61 @@ if ($kconfig) {
     read_kconfig($kconfig);
 }
 
+sub convert_vars {
+    my ($line, %vars) = @_;
+
+    my $process = "";
+
+    while ($line =~ s/^(.*?)(\$\((.*?)\))//) {
+	my $start = $1;
+	my $variable = $2;
+	my $var = $3;
+
+	if (defined($vars{$var})) {
+	    $process .= $start . $vars{$var};
+	} else {
+	    $process .= $start . $variable;
+	}
+    }
+
+    $process .= $line;
+
+    return $process;
+}
+
 # Read all Makefiles to map the configs to the objects
 foreach my $makefile (@makefiles) {
 
-    my $cont = 0;
+    my $line = "";
+    my %make_vars;
 
     open(MIN,$makefile) || die "Can't open $makefile";
     while (<MIN>) {
+	# if this line ends with a backslash, continue
+	chomp;
+	if (/^(.*)\\$/) {
+	    $line .= $1;
+	    next;
+	}
+
+	$line .= $_;
+	$_ = $line;
+	$line = "";
+
 	my $objs;
 
-	# is this a line after a line with a backslash?
-	if ($cont && /(\S.*)$/) {
-	    $objs = $1;
-	}
-	$cont = 0;
+	$_ = convert_vars($_, %make_vars);
 
 	# collect objects after obj-$(CONFIG_FOO_BAR)
 	if (/obj-\$\((CONFIG_[^\)]*)\)\s*[+:]?=\s*(.*)/) {
 	    $var = $1;
 	    $objs = $2;
+
+	# check if variables are set
+	} elsif (/^\s*(\S+)\s*[:]?=\s*(.*\S)/) {
+	    $make_vars{$1} = $2;
 	}
 	if (defined($objs)) {
-	    # test if the line ends with a backslash
-	    if ($objs =~ m,(.*)\\$,) {
-		$objs = $1;
-		$cont = 1;
-	    }
-
 	    foreach my $obj (split /\s+/,$objs) {
 		$obj =~ s/-/_/g;
 		if ($obj =~ /(.*)\.o$/) {