The song "Daddy's Little Angel" is included in the licensed version. Also in the licensed version, "If Only" is in both acts. "I Want the Good Times Back" from the Broadway version is not included. Carlotta was a character in the Broadway version but is not in the licensed version.

For information on the Broadway production history, check out these links:

http://www.playbill.com/production/the-little-mermaid-lunt-fontanne-theatre-vault-0000005011

https://en.wikipedia.org/wiki/The_Little_Mermaid_(musical)